In light of recent subscription drops, Netflix has announced that they are splitting their two big services into separate companies!

Their instant streaming business will remain as Netflix, but their disc rental will now be called Qwikster.

TechCrunch reports:

Netflix CEO Reed Hastings just dropped a bombshell. In the wake of a rapid decline in Netflix’s stock price last week, Hastings is taking a bold step by separating the DVD and video streaming services. The DVD-by-mail service will now be called Qwikster, and the streaming service will maintain the Netflix brand. That’s right: the new business (streaming) will keep the existing name.

Customers can still subscribe to both, but the two sites will not be integrated anymore. Qwikster will also now offer video game rentals through the mail, a long-requested service. With this move, Hastings is reaffirming his long-held belief that streaming is the future of Netflix and the future of entertainment, and Wall Street can judge its progress by how well the streaming business is doing on its own. Separating the businesses will also force customers to make a choice, and it is obvious which choice Hastings wants them to make (hint: it starts with an “N”).

Will you still remain subscribed to both services?

As pointed out by Mashable, the Qwikster Twitter account is currently owned by someone who’s profile picture is of Elmo involved in an adult activity. We wonder if they even bothered to check the Twitter account prior to the announcement!