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NETFLIX IS FOUNDED
In 1998 Netflix.com is launched by Reed Hastings and Marc Randolph with a roughly 900 title mail-order DVD library. Subscribers pay per title for the service. This service came on the heels of the release of the DVD in 1997/ early 1998.
(Study.com, 2023) (image copyright of Netflix) -
Subscription service model adopted
With a library encompassing almost all published DVDs at the time in the US, Netflix adopts a subscription model of revenue, later in early 2000 they abandoned the per-title rental option in favor of a monthly subscription model. (image copyright of Netflix) -
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Pain before Growth
During the dot com bubble, and largely due to the September 11th attacks, Netflix lays off one third of it's employees, roughly 40 people. Even as subscriptions picked up, legal battles with video rental company Blockbuster were hashed out and settled with undisclosed resolution, and Netflix as a growing company operated an original content, licensing and producing independent films from 2006 to 2008 -
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The birth of the streaming giant
At the beginning of 2007 Netflix launches a streaming service, since bandwidth and internet speeds can now support their content. They initially offered roughly 1,000 titles on streaming, but still continued to offer a physical library selection of roughly 70,000 titles. -
Market prevalence and social impact
Streaming takes over physical rental revenue in 2009. In 2010 Netflix licensed the first three seasons of the show Breaking Bad, and launched it before the debut of the fourth season on AMC which increased the shows audience and popularity to double what it was prior to being on Netflix, this is the first show to experience the "Netflix effect". (Osur, 2016) (image copyright of Netflix) -
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The Power of Streaming
In 2013 Netflix entered into a deal with Marvel Television to release four television series, buying into the cultural success of the superhero craze. By 2015 Netflix was considered to be offered worldwide, with few exceptions. In 2016 Netflix released an estimated 125 original titles. The most of any content channel that year. (Tyron, 2015) -
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Streaming wins the long game
Starting in 2017 Netflix enters the international original content market with productions focused at specific regions of the international viewing community. Netflix continues to acquire animation studios and production companies, and discontinues rentals of DVDs in April of 2023. Streaming is the new frontier, even after a 35% drop in stock over controversial password sharing policy changes. (Schmidt, 2019) -
Todays Streaming, is tomorrows....
Netflix acquires the rights for WWE RAW streaming content. The future is bright and bold for the streaming company. The company now employs roughly 13,000 employees and has an annual revenue in excess of 31 billion USD.(Stockanalysis.com, 2024) (image copyright of Netflix)