Reed Hastings: ?Qwikster Became The Symbol Of Netflix Not Listening?

Netflix announced disappointing earnings today, and its expectations to go slide into unprofitability next year. The stock is trading at around $87 in after-hours, down from a close of $120. Following the blowback from his price change, CEO Reed Hastings says, "The focus for us is in rebuilding our reputation." Asked a question about the attempt to separate the DVD business from the streaming business and create a new in a new Qwikster brand (a plan now abandoned), Hastings admits now: "In hindsight, it is hard to justify. Having separate brands can in theory make sense. However after the price increase, Qwikster became the symbol of Netflix not listening." Below are my notes. You can listen to the entire Q&A in the audio embed below.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/ycFZY46zUmI/

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