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Netflix Renames DVD Business As 'Qwikster', Also Renting Games

Netflix announced on Sunday night that it will change the name of its DVD business to Qwikster, which will be headed by Andy Rendich, the current top man.

It's worth noting that this is not a fully fledged spinoff but just a change of name which highlights the fact that streaming is the area Netflix considers to be its long term future.

And for the first time ever (opens in new tab), Netflix will rent out video games for all major gaming consoles (XBox, Wii and PS3) although the flipside is that users looking to rent physical discs and stream content will have to manage two separate subscriptions.

Shares of Netflix fell by almost a fifth after it cut its expected number of subscribers from 15 million to 14.2 million for the quarter, and did the same for its streaming subscriber expectations, which dropped from 22 million to 21.8 million.

Back in July, Netflix caused a massive outcry amongst its customers after announcing significant price rises for those who wanted both DVD and streaming movies.

Netflix CEO Reed Hastings explained the decision in a blog post: "Most companies that are great at something – like AOL dialup or Borders bookstores – do not become great at new things people want (streaming for us) because they are afraid to hurt their initial business."

Désiré Athow

Désiré has been musing and writing about technology during a career spanning four decades. He dabbled in website building and web hosting when DHTML and frames were en vogue and started writing about the impact of technology on society just before the start of the Y2K hysteria at the turn of the last millennium. Following an eight-year stint at where he discovered the joys of global tech-fests, Désiré now heads up TechRadar Pro. Previously he was a freelance technology journalist at Incisive Media, Breakthrough Publishing and Vnunet, and Business Magazine. He also launched and hosted the first Tech Radio Show on Radio Plus.