NEW YORK ( TheStreet) -- Here's what subscribers need to know about the new Netflix ( NFLX), which announced late Sunday that it is splitting the company into two separate businesses -- one for DVD rentals and one for streaming video.

Here's what subscribers need to know about the shift.
  • The company will rename its DVD-by-mail service "Qwikster;" it is merely a renamed version of the Netflix DVD Web site. It's streaming service will continue to operate under the Netflix banner.
  • Qwikster will be the same Web site and DVD service subscribers have become accustomed to. It will add a video game rental option for Wii, PlayStation 3 and Xbox 360 games.
  • There are no price changes. Each service will continue to cost $7.99 per month. Members who subscribe to both services will have two entries on their credit card statements, one for Qwikster and one for Netflix. The total will be the same as the current charges.
  • Current subscribers won't have to do anything special if they already subscribe to Netflix's DVD-by-mail service.

-- Written by Jeanine Poggi

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