Business, Entertainment

Netflix Ditches Spinoff Idea and Qwikster, Stays Just Netflix

Following the continuous decline in numbers of subscriptions, Netflix management aborted the idea of spinning off the DVD rental business which became known as Qwikster.

Netflix LogoThe Netflix management recently pulled a string of ideas which resulted not just in complaints, but in a large number of users leaving the service – first the company suffered a debacle with the announced spinout (which oddly sounds like "Quixtar", a multi-level marketing scheme) followed by the decision to increase the subscription, which lead to a number of protests and more importantly, lost revenue for Netflix as the customers left in droves.

Today, Netflix announced that the company is aborting the idea, as well as signing additional content deal for several hundred movies from Fox, Lionsgate, MGM, Miramax, Paramount, Sony, Universal and Warner Bros, as well as 3,500 TV episodes from all major networks such as A&E, ABC and ABC Family, CBS, Discovery Channel, Disney Channel, E!, FOX, History, NBC, Nickelodeon, PBS, SyFy, TLC and USA.