Arab Today, arab today netflix apologizes for snafu renames dvd unit
Last Updated : GMT 02:31:16
Arab Today, arab today
Arab Today, arab today

Netflix apologizes for snafu, renames DVD unit

Arab Today, arab today

Arab Today, arab today Netflix apologizes for snafu, renames DVD unit

New York - AFP

Netflix is separating its DVD rental service from its online streaming unit and apologizing for the handling of a price hike which upset many subscribers to the popular video service.Chief executive Reed Hastings made no change to the new pricing scheme, which resulted in a whopping increase for many customers, but apologized for the communications surrounding the move.\"I messed up. I owe everyone an explanation,\" Hastings said in a letter to subscribers posted on the Netflix blog late Sunday. \"It is clear from the feedback over the past two months that many members felt we lacked respect and humility in the way we announced the separation of DVD and streaming, and the price changes,\" he said. \"That was certainly not our intent, and I offer my sincere apology.\" Netflix announced in July that online streaming and DVD-by-mail service that previously cost subscribers $10 per month will jump to $16 monthly. Subscribers can also opt to sign on for one service or the other for $8 a month. Hastings said the DVD service would be renamed Qwikster \"because it refers to quick delivery\" and Netflix will be used for video streaming. Customers who get both will receive two separate charges.\"Streaming and DVD by mail are becoming two quite different businesses, with very different cost structures, different benefits that need to be marketed differently, and we need to let each grow and operate independently,\" he said. \"Qwikster will be the same website and DVD service that everyone is used to. It is just a new name, and DVD members will go to qwikster.com to access their DVD queues and choose movies,\" Hastings said.The Los Gatos, California-based Netflix also said it would be adding videogames to Qwikster offerings.Youssef Squali of Jefferies said Netflix\'s move is intended to \"extend the life of the company\'s cash cow, which is rapidly becoming a declining business, while clearly separating its growing streaming offering.\" Netflix shares tumbled recently when its subscriber forecast for the United States for the third quarter was cut from 25 million to 24 million and they fell again on Monday. Netflix shares shed 7.37 percent on Wall Street to close at $143.75.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today netflix apologizes for snafu renames dvd unit Arab Today, arab today netflix apologizes for snafu renames dvd unit

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today netflix apologizes for snafu renames dvd unit Arab Today, arab today netflix apologizes for snafu renames dvd unit

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday