Reed Hastings An Explanation And Some Reflections

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[Reed Hastings - An Explanation And Some Reflections - Andrew Rendich]

[Wilmot Reed Hastings, Jr. (born October 8, 1960)] Source: LYBIO.net
Hi, I’m Reed Hastings, CEO and co-founder of Netflix

[Andrew Rendich]
Hi, I’m Any Rendich and I head up DVD operations at Netflix.

[Reed Hastings] Source: LYBIO.net
We’ve been working for the past 14 years to build Netflix year by year into the best possible service we could build. And we are making this video today to apologize in person or at least on camera for something that we did recently. A few months ago, when we look forwarded our business we realized over time DVD and streaming were becoming more and more different and that we could do a better job for both services if we separated them. When we communicated that to our subscribers and it involves a substantial price increase for most members, I didn’t make the communication and we didn’t explain why we were doing it. If I had communicated it directly to all of our members it wouldn’t change the actual price increase. But I would of said, over the long term DVD and streaming are gonna get more and more different. Source: LYBIO.net Streaming has incredible television, it show, streaming has incredible television shows, streaming is instant, streaming is fairly global, streaming has many things that make it different from DVD. And over time, both DVD and streaming will be much better because they are separate. And in fact, we think that the DVD service needs its own Brand so that we can advertise it. So we’ve named our DVD service Qwikster, and I’ve asked Andy Rendich sitting here with me to be the CEO of Qwikster. Andy’s been with Netflix for 12 years and he’s been running the DVD service for 4 years. So other than the name change, it’s not that big of change but I think it’ll be great for us to have a separate brand, a separate website, and for Andy to be able to innovate at a great rate. So with that, let me introduce to you the CEO of Qwikster, our DVD by mail service, Andy Rendich.

[Andrew Rendich] Source: LYBIO.net
You know, DVD service has been around for over 12 years, in fact, we’ve pretty humble roots, we started with a couple of thousand shipments a day and now we are up to millions of shipments a day and you know, I’m absolutely thrilled to be a part of it, as I always have been. There will be a couple of changes for our customers. First, our website, it will have the same look and feel. But it will be at Qwikster dot com. Source: LYBIO.net That iconic red envelope that you all know and love will actually have some slight changes, you’ll see that really, just the logo is changing on there, it’s gonna be the same great service that you’ve all known. You know, we’ve innovated a lot over the years and we’ll continue to innovate. One of the innovations we’re going to introduce is games. We’re gonna have games available as an additional charge, just like our blue-ray and we’re gonna have them for the X-Box 360, the PS3, and the Wii.

[Reed Hastings] Source: LYBIO.net
To wrap up, I just wanna say again, how sorry I am on the way we handled the communication around the these big changes. We do think over the long term they will help us innovate much faster, build a better DVD service, a better streaming service and earn everybody’s interest. But I wished we handled the communication in a more forthright manner directly from me and explained those choices. For all of your patience, I thank you.

Reed Hastings – An Explanation And Some Reflections – Andrew Rendich. We’re going to introduce is games. We’re gonna have games available as an additional charge, just like our blue-ray and we’re gonna have them for the X-Box 360, the PS3, and the Wii. Complete Full Transcript, Dialogue, Remarks, Saying, Quotes, Words And Text.