"We realized that streaming and DVD by mail are becoming two quite different businesses, with very different cost structures, different benefits that need to be marketed differently, and we need to let each grow and operate independently," Hastings explained in a blog post. ":It’s hard for me to write this after over 10 years of mailing DVDs with pride, but we think it is necessary and best: In a few weeks, we will rename our DVD by mail service to 'Qwikster'."
Netflix has been under fire ever since it announced a price hike for its DVD and streaming video services. The change, which bumped the price of the streaming and DVD plan by 60%, was met with a social media revolt, resulting in Netflix cutting its customer forecast by 1 million.
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This story originally published on Mashable here.
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