Netflix Apologizes for Price Increase and Announces Qwikster

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Netflix Apologizes for Price Increase and Announces Qwikster

After the big debacle last month about Netflix’s increased pricing scheme, CEO Reed Hastings has announced in a blog post that video streaming and DVD-by-mail services will be split into two companies and rebranded. While the instant streaming service will still be accessed through the Netflix website, the DVD-by-mail service will now be known as Qwikster and be headed up by long-time head-of-operations Andy Rendich. Qwikster will receive its own website and pricing scheme and will also come to include video game rentals for the Xbox 360, Nintendo Wii and PlayStation 3.

In the video blog update, Hastings also apologizes for the lack of communication in the Netflix pricing increase that left a bad taste in the mouths of subscribers. Here’s to hoping separation of these services brings the price of streaming back down. Check out the video update below: