Nearly three weeks after Netflix CEO Reed Hastings announced that the company was going to create a spin-off called Qwikster as a hub for its physical DVD rentals, the web's number one video-rental service has decided against the plan.
Two months after news broke that Netflix was going to charge its users more stream video and rent DVDs, Hastings told subscribers that in the near future they would have to go to an entirely different website to rent those DVDs, as Netflix was only going to handle streaming. Unsurprisingly, people were pissed. They were so pissed, the company thought it wise to stick with what's already working lest more users decided to cancel their subscriptions.
In a statement today, Hastings said: Consumers value the simplicity Netflix has always offered and we respect that. There is a difference between moving quickly...and moving too fast, which is what we did in this case."