Netflix Tries to Pull a Qwikster on Its Subscribers

Image via CrunchBaseUndoing a public relations fiasco can be harder than coaxing toothpaste back into a tube, but Netflix chief executive Reed Hastings gave it the old college try this week, The New York Times reported.

In announcing that Netflix will continue to stream movies but that its DVD-in-the-mail subscription service will now operate separately under the name Qwikster, Hastings also apologized to the company's users for mishandling the announced price increase for subscribers. The company's rate jumped 60 percent from $10 a month for online movie streaming and DVD mail delivery to a combined $16 a month or $8 for each of the Qwikster and Netflix services.

According to the Times article, the price boost prompted roughly 1 million of the company's estimated 25 million customers to abandon ship.