Netflix CEO Reed Hastings, “I Messed Up”, Spins DVD Mail Service Into New Business Named “Qwikster”

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If you’re a Netflix customer, you’ve undoubtedly seen and maybe even read the letter Netflix’s CEO, Reed Hastings, sent to your email. Rightfully so, he starts the letter off with the words … “I messed up”. He then goes on to give apologies and explain what Netflix has done and is doing. Everything so far, I think we all knew. Especially that he thought of streaming and DVD by mail as two different businesses. However, this is when the news we weren’t expecting was delivered.

It’s hard to write this after over 10 years of mailing DVDs with pride, but we think it is necessary: In a few weeks, we will rename our DVD by mail service to “Qwikster”. We chose the name Qwikster because it refers to quick delivery. We will keep the name “Netflix” for streaming.

So how will Qwiskter be different? Well, it won’t be too different at all. It’ll offer the same DVD service that subscribers are used to, and there will be no pricing changes. So the look and feel of the service will be native to current customers. However, there are some enhancements and additions to the service that will be welcomed by many. Most notably and at launch will be the addition of “a video games upgrade option … for those who want to rent Wii, PS3 and Xbox 360 games.”

This is all good, but I wonder how much the subscribers of the old Netflix will care. At the end of the day, the price is still the same, and options have been eliminated for some. Nonetheless, it’s still good to get an apology from Reed Hastings, and thus Netflix/Qwikster. For those wanting more information on this, check out Netflix’s blog from the source link below. Any thoughts on this?

 

Source [Netflix]

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