Netflix Separating Its DVD and Streaming Services
Posted on Mon Sep 19, 2011 04:55 PM PDT

netflix200.jpgLOS ANGELES, California (X17online) - Netflix is separating its DVD and streaming services, the company announced Sunday.

Netflix will launch a new company called Qwikster for its DVD-by-mail services, while streaming services will remain on

The news has upset many Netflix customers, many of whom were already displeased with the company’s recent announcement that prices for its subscription service would increase by 60 percent.

Despite Netflix CEO Reed Hastings’s lengthy apology to disgruntled customers on the company’s blog, Netflix’s stock dropped over 7 percent Monday.