-
Netflix Launches Its Website
In 1998, a new company in California that began a year prior by Reed Hastings and Marc Randolph, named Netflix, launched a website with over 900 DVDs available to rent. Before the website launched, people wanting to rent a DVD had to go to a movie rental business physically, changing the way Americans would rent DVDs. The concept was such a hit the website crashed that day. Marc and Reed were able to get the website back online, and by the end of their first day had rented out nearly 150 titles. -
Netflix Offers to Sell The Company
Netflix had made over 6 million dollars within its first two years of operation, and its founders decided to sell their new company. In 2000, Marc and Reed offered to sell to their most significant competitor at that time, Blockbuster, for 50 million dollars. Blockbuster CEO John Antioco declined the offer and laughed at the Netflix team for offering. Blockbuster did not see Netflix as a competitor, as most Americans were still going to physical locations to rent their DVDs during this time. -
Netflix Goes Public
Fast-forward another two years later, Netflix is now valued at over 300 million dollars and went public in May 2002. Netflix's initial public offering was just $15 a share, a fraction of what it is today. -
Netflix Launches Its Streaming Service in The US
In 2007, Netflix launched its streaming service, which would become its sole business structure. The Netflix streaming service only had 1,000 movies to stream when it first launched but would continue growing and later help shape how people watched movies. -
Netflix Launches Its Streaming Service Internationally
By 2010, it was clear that streaming was the way of the future, and Netflix launched its streaming service internationally. Because the streaming service was so successful, Netflix also launched its first streaming-only plan during the same year. Interestingly, their top competitor and once hopeful buyer of the company, Blockbuster, filed for bankruptcy that same year. -
Netflix Produces Its Own Content
Netflix started producing its own streaming content in 2012, starting with an original series titled "Lilyhammer" and then "House of Cards" by the following year. Original content proved to be a success, as Netflix now has more than 2,000 Netflix Originals today. -
Netflix Hits 100 million Subscribers
By 2017, now the world's most in-demand streaming platform, Netflix has hit 100 million monthly subscribers worldwide. In America, nearly three-quarters of all homes are Netflix customers, highlighting the company's impact in changing the way Americans consume media. -
Netflix Introduces Netflix Games
Netflix introduced another form of media to their streaming platform, mobile gaming, with the launch of Netflix Games in 2021. This introduction marked the first significant change in the company's business model since it switched from mailing DVDs to streaming movies online. The company would obtain the game company Boss Fight Entertainment the following year, indicating the direction Netflix is moving.