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Uploaded on Oct 19, 2011
On September 18, 2011, Netflix CEO Reed Hastings announced a split in its streaming and DVD service. The streaming service would remain as Netflix and the DVD service would now be called Qwikster. The change occurred shortly after a fairly substantial price hike in both services. In the following online video, Hastings apologizes for the way he handled communication with his customers, but defended his decision to make the changes.