From the article: Netflix's woes took a strange twist on Sunday night, in an 11:59 p.m. EDT blog post by CEO Reed Hastings. "I messed up", he begins. Yeah, based on subscriber losses and punishing shareholders, Hasting puts it mildly. The gist is this: After jacking up the price of combined DVD rentals and streaming by an astonishing 60 percent, Hastings presents an unexpected solution: Netflix is splitting its streaming and DVD rental business into two operations.
My thoughts are summed up as this: In other news, CEO attempts to put lipstick on a pig...
On a side note:
ReplyDeleteFrom the BBC:
The website for Qwikster has been secured and it promises that the service will be coming soon.
However, Netflix did not secure the Twitter handle for Qwikster which was created in April by Mr Castillo.
http://www.bbc.co.uk/news/technology-14986900