Trending News Channel

Netflix Introduces Qwikster; DVD Rental Business Spun Off Into Separate Unit (VIDEO)

Qwikster is trending after Netflix announced it is splitting its business into two parts: digital streaming, which will keep the name Netflix, and DVD rental, which will go by the new moniker Qwikster.

In an email to customers, Netflix CEO and co-founder Reed Hastings explained the move and apologized for the recent bungled price hike that drove away hundreds of thousands of subscribers and caused a steep drop in the company’s stock price.

Hastings says the name Qwikster refers to “quick delivery” and assures customers the split will benefit them in the long run, but online reactions are so far mixed.