RIP Qwikster: Netflix Will Keep DVDs

CEO Reed Hastings says move was 'too fast'
By Kevin Spak,  Newser Staff
Posted Oct 10, 2011 7:46 AM CDT
RIP Qwikster: Netflix Will Keep DVDs
In this file photo made July 20, 2010, a Netflix customer holds up a movie in Palo Alto, Calif.   (AP Photo/Paul Sakuma, file)

(Newser) – Ah, Qwikster, we hardly knew ye. Probably because ye never launched, and never will. Netflix abruptly changed course today, announcing that it would not be slicing off its DVD-by-mail service into a separate site after all, Reuters reports. “There is a difference between moving quickly—which Netflix has done very well for years—and moving too fast, which is what we did in this case,” CEO Reed Hastings said in a statement.

story continues below

The about-face means that customers “will continue to use one website, one account, and one password,” the company’s statement said. The bad news: The new price structure, which jacked rates for some users by as much as 60%, is staying put. "While the July price change was necessary, we are now done with price changes," wrote Hastings on the Netflix blog. Netflix had faced intense backlash over both moves; its stock is down 60% since July, and the company recently slashed its subscriber forecast by 1 million as cancellations roll in. (Read more Netflix stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.