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Posted by on Sep 19, 2011 in movies, tech news | 0 comments

Meet Qwikster The New Netflix

Reed Hastings, Netflix CEO announced that Netflix will be restructured.  Netflix will be splitting into two companies; DVD and Streaming Video business. Hasting stated, “We realized that streaming and DVD by mail are becoming two quite different businesses.” He also said that is being done to win back customers trust.

Netflix DVD by mail will become Qwikster.  Qwikster will also offer Video Games for rent: Wii, PS3 and Xbox 360.

Hasting also stated that the company realized that DVD by mail and Streaming had become two different businesses; in terms of cost, different benefits and marketing. The two companies need to grow and operate independently.

Qwikster will launch in a few weeks. Qwikster means quick delivery.