On September 18th 2011 Reed Hastings posted an entry on the Netflix blog that started “I messed up. I owe you an explanation.” This message comes weeks after the new sudden price increases that caused headlines such as “Customers fleeing from Netflix” and “ Netflix Customer Base Doomed” blog entries that were headed “I am glad I never signed up”. Do you think these messages that they viral across the internet had something to do with, Co-Founder and CEO of Netflix, Reed Hastings rather interesting blog entry? I think so!
Netflix is doing a bit of a shuffle and they are really taking their well-recognized brand name “Netflix” and using it to gain a piece of the streaming market. They have changed their 10 year old DVD mail service into a product/service called Qwikster. It is obvious that the name “Netflix” has a huge weight to it and is worth millions, so I get why they are using the Netflix name to push into the streamlining market. They have started to tap into international markets, case and point: the announcement of Netflix available in Bermuda a few weeks ago in the Royal Gazette. However, movie titles are slim and there are no new releases, so it was not that big of an announcement + Bermudians have been enjoying Netflix for a while with one of technologies great inventions: the overseas, US IP address!.
Anyway, Netflix is reforming, restructuring and trying to break into a new market “streaming video” so let’s see where they go. I have a feeling that Qwikster is just a wind down of the old Netflix made to phase out- would be interesting to see where Qwikster will be in 10 years…….
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