Netflix announced last night that it will be spinning off the DVD-by-mail service into a new company. The new company will be called Qwikster and will have a separate website, qwikster.com. The streaming service will keep the name Netflix.
The C.E.O. of Netflix also apologized for how the company handled the price increase. The 60% increase has cost the company about 1 million of its customers.
What do you think of the move? Will it satisfy customers?