Netflix Quits Qwikster, Apologizes Again

After apologizing for—but not removing—the 60 percent price hike from earlier this year, Netflix’s CEO announced the formation of a new website and business for their DVDs called Qwikster. According to Deadline, when Netflix announced its price change, the company lost 60 percent of its market share (or $10 billion). They hoped to win back subscribers and investors with the separation of their DVD-mailing service into a separate entity known as “Qwikster,” but instead just left many confused and unsure about Netflix’s future.

Now, according to another blog post from CEO Reed Hastings, “It is clear that for many of our members two websites would make things more difficult, so we are going to keep Netflix as one place to go for streaming and DVDs. This means no change: one website, one account, one password… in other words, no Qwikster.”

Got news tips for Paste? Email news@pastemagazine.com.