Netflix abandons Qwikster plans in embarrassing reversal
Can you say: D'oh!
Recently, Netflix said it was going to raise prices and split off its video streaming service from its DVD rental service.
The plan was to maintain Netflix.com as a streaming-only service. And a new venture, Qwikster.com, would be for customers interested in only DVDs.
But, customers hated the idea -- and left in droves. Netflix slashed its third-quarter subscriber forecasts by a million, according to the WSJ.
So today, Netflix reversed course. In a blog post, the company said "two websites would make things more difficult" for their members. And, no more price increases, the company promised.
Up until this debacle, Netflix could do little wrong. But their reputation has taken a hit with these changes, course reversals, and back-trackings. Is this a chance for competitors to swoop in?
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