Netflix's plan to split-up the company was short-lived, with CEO Reed Hastings announcing on Oct. 10 that it is abandoning Qwikster.
"It is clear that for many of our members two Web sites would make things more difficult, so we are going to keep Netflix as one place to go for streaming and DVDs," Hastings said on the company's blog.
As a result, Netflix said it will keep the company intact, with just one Web site, one account and one password to access both rental ques.This comes less than a month after the company said it was separating its DVD-by-mail service called Qwikster and leaving the streaming division under the Netflix banner. Hastings made the announcement as part of a mea culpa on the company's blog regarding the recent price hike.
Power Outages Streaming power outages have plagued Netflix over the past several months. Most recently, the company experienced another multi-hour streaming outage on Oct. 9 The company's tech Twitter feed, NetflixHelps, is littered with posts regarding streaming outages. Scrolling through the feed, it appears Netflix has dealt with numerous outages over the last several months. Netflix saw a streaming outage on Oct.1, Aug. 25, intermittent streaming problems on Aug. 22, and a multi-hour outage on Aug. 9. >Dropping Netflix? Here Are Your Options The company went so far as to offer a 3% credit to customers impacted by a service outage on July 17.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV