RIP Qwikster: Netflix Will Keep DVDs

Ah, Qwikster, we hardly knew ye. Probably because ye never launched, and never will. Netflix abruptly changed course today, announcing that it would not be slicing off its DVD-by-mail service into a separate site after all, Reuters reports. “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,” CEO Reed Hastings said in a statement.

The about-face means that customers “will continue to use one website, one account, and one password,” the company’s statement said. The bad news: The new price structure, which jacked rates for some users by as much as 60%, is staying put. "While the July price change was necessary, we are now done with price changes," wrote Hastings on the Netflix blog. Netflix had faced intense backlash over both moves; its stock is down 60% since July, and the company recently slashed its subscriber forecast by 1 million as cancellations roll in. (More Netflix stories.)