“Netflix and Chill” (La Shanda Rene Foster) The start of Netflix is far different from the Netflix we know and experience today. The service was founded in 1997 by Reed Hastings and Marc Randolph and was innovative for its time. The original Netflix’s first task was to create an online movie DVD renting service using the internet, which back then was a new form of technology. Officially, in the year 1998, Netflix.com was created. The whole website consisted of a large number of DVDs that could be rented using the website. The first ever DVD that was rented through Netflix was the movie Beetlejuice. The movie was delivered in a white colored envelope to consumers. Only a year later, in 1999, Netflix introduced a subscription service that allows subscribers to rent an unlimited number of movies. The subscription was charged monthly.
Finally, in the year 2000, the Netflix we use on an everyday basis was launched, allowing customers to send recommendations and feedback. In 2002, Netflix, as a DVD rental company, went public in the stock market. However, unfortunately, its stock was only $2 per share, which was not worth much at all to investors. In 2007, the idea of being able to stream movies and TV shows online became a reality. With people now able to watch at home, Netflix became the main go-to streaming source, which increased the stock price by $8 per share in 2009.
In 2009, Netflix also began partnering with TV companies to get its streaming service on more platforms. By 2010, customers could stream their favorite shows on their iPhones and other devices anywhere. In 2012, Netflix was introduced to the European Union. Even with Netflix being a significant influence on mobile and at-home streaming, they weren’t done yet. In 2013, they started creating their own Netflix original shows. Some well-known favorites include House of Cards and Orange Is the New Black.
Fast-forwarding to the present, Netflix now faces many competitors, such as Hulu, Disney Plus, HBO, and more. This competition has negatively impacted Netflix, making it more challenging to acquire other shows and movies for its platform. Netflix now has to pay significantly more to secure these titles. Due to this financial strain, Netflix was forced to increase its subscription prices in the summer of 2023.
Despite these challenges, Netflix remains the largest and most used online streaming service in the world, with about 230 million subscribers. In 2024, Netflix introduced more affordable subscription options by adding ads to the platform. Netflix also ensures that its content is available in 4K streaming, maintaining high-quality visuals. The company emphasizes that its content quality matches the quantity of movies and shows it offers.
Netflix continues to succeed with its new original shows like Bridgerton, Stranger Things, and Squid Game, which keep users engaged and prevent them from canceling their subscriptions. Netflix remains innovative, constantly introducing new shows and features to ensure its streaming service is here to stay. Overall, Netflix is here to stay and has been the foundation of online media streaming as we know of it today.
https://www.thestreet.com/technology/history-of-netflix-15091518
https://www.netflix.com/tudum/articles/netflix-trivia-25th-anniversary
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