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Netflix drops Qwikster plan, says it moved 'too fast'

Qwikster was a little too quick for Netflix.

Bowing to an outcry from its customers, Netflix is dropping a plan to spin off its DVD service into a new company called Qwikster, the New York Times reported Monday.

In an interview with Brian Stelter, who writes the newspapers Media Decoder blog, Netflix spokesman Steve Swasey said, "We underestimated the appeal of the single web site and a single service.”

"We greatly underestimated it," he said.

Netflix CEO Reed Hastings declined to be interviewed by the Times, but he said in a statement: “Consumers value the simplicity Netflix has always offered and we respect that. There is a difference between moving quickly — which Netflix has done very well for years — and moving too fast, which is what we did in this case.”

Later, the company posted a blog confirming the news. "This means no change: one website, one account, one password… in other words, no Qwikster," the blog said.

The company also said it was "done with price changes," although the price changes it announced in July, which meant a 60 percent increase for many of its customers, would remain. Customers by the thousands blasted the company's plans in posts on Facbeook in July. Many threatened to cancel the service.