Netflix to split into two companies

Tagged: Movie Rentals, Netflix, Entertainment, Gaming, Technology
Source: Fudzilla - Read the full article
Posted: 5 years 5 weeks ago

"It looks as if Netflix had much more up its sleeve when it announced its price increases, causing consumer rebellion. Now, CEO Reed Hastings of Netflix has announced that the company will be splitting into two separate companies. Netflix will continue to focus on offering on demand streaming. A new separate spin-off company that will be called Qwikster will be handling all of the disc rentals. Yes, that is right: we said disc rentals, as the new Qwikster will continue to offer DVDs (of course) and in addition, the company will be adding an upgrade option that it already has for Blu-ray; this will allow subscribers to rent video games as an upgraded offering for an additional fee per month. This means that Qwikster will be going head to head with Gamefly for video game rentals."