Netflix Separating Its DVD and Streaming Services
Posted on Mon Sep 19, 2011 04:55 PM PDT
LOS ANGELES, California (X17online) - Netflix is separating its DVD and streaming services, the company announced Sunday.
Netflix will launch a new company called Qwikster for its DVD-by-mail services, while streaming services will remain on Netflix.com.
The news has upset many Netflix customers, many of whom were already displeased with the companyâ€™s recent announcement that prices for its subscription service would increase by 60 percent.
Despite Netflix CEO Reed Hastingsâ€™s lengthy apology to disgruntled customers on the companyâ€™s blog, Netflixâ€™s stock dropped over 7 percent Monday.