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In the Media

article imageNetflix gives Qwikster the boot

After separating their streaming and DVD services when a price hike was favored poorly, Netflix has now decided to get rid of their new DVD delivery service Qwikster and revert back to their old system.
Netflix has been having a rough few months, after a subsequent price hike after heated talks with certain movie studios and then stock plummeting, Netflix decided to split their services completely.
Their DVD rental service, which delivers DVD's to customers via mail, was spun off into a separate service called Qwikster. Customers who used the DVD rental service would have to use a different website from Netflix, but, continue to be billed through Netflix.
Unfortunately, when Qwikster was revealed, most of Netflix's customers were less than satisfied. Now, Reed Hastings--CEO of Netflix--has decided to give Qwikster the boot. As reported by Mashable, Hastings took to the company's official blog: "...This means no change: one website, one account, one password…in other words, no Qwikster."
Also mentioned in the blog post is the decision of no more price changes or tiered systems. When Netflix announced their price changes earlier in the summer, and eventually the Qwikster announcement, their stock fell significantly, losing half of its original value by September and early autumn. Netflix announced their price changes in July.
Starting on September 1, Netflix decided to raise the price of their plans for both streaming and rental to $16 a month--or, $7.99 for either streaming or DVD rental.
Stock has started to raise again steadily, and surely the news of Qwikster being discontinued and prices remaining stagnant should help with that growth, as well.
article:312608:15::0
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