Netflix, Inc. history, profile and history video
Netflix, Inc. operates as an Internet subscription service company, which provides subscription service streaming movies and TV episodes over the Internet and sending DVDs by mail. The company operates its business through three operating segments: Domestic streaming, International streaming and Domestic DVD. Netflix obtains content from various studios and other content providers through fixed-fee licenses, revenue sharing agreements and direct purchases. It markets its service through various channels, including online advertising, broad-based media, such as television and radio, as well as various partnerships. The company was founded by Marc Randolph and Wilmot Reed Hastings Jr., on August 29, 1997 and is headquartered in Los Gatos, CA.“
“A brief history of the company that revolutionized watching of movies and TV shows
- Reed Hastings and fellow software executive Marc Randolph co-found Netflix to offer online movie rentals.
- Netflix launches the subscription service, offering unlimited rentals for one low monthly subscription.
- Netflix launches the personalized movie recommendation system that uses Netflix members’ ratings to accurately predict choices for all Netflix members.
- Netflix ends the year with 857,000 members, up 88 percent from 2001.
- Netflix makes its initial public offering (IPO) of 5,500,000 shares at $15.00 per share on Nasdaq under the ticker “NFLX.” Total Netflix members at the time: 600,000 – May 22, 2002
- Netflix ends the year with 1,487,000 members, up 74 percent from 2002.
- Netflix ends the year with 2,610,000 total members, up 76 percent from 2003.
- Netflix ends the year with 4.2 million members, up 60 percent from 2004.
- Netflix launches the Netflix Prize, promising $1 million to the first person or team who can achieve certain accuracy goals in recommending movies based on personal preferences. The company releases 100 million anonymous movie ratings ranging from one to five stars, the largest such data set ever released.
- Netflix ends the year with 6.3 million members, up 51 percent over 2005.
- Netflix introduces streaming, which allows members to instantly watch television shows and movies on their personal computers.
- Netflix ends the year with 7.5 million members, up 18 percent over 2006.
- Netflix partners with consumer electronics companies to stream on the Xbox 360, Blu-ray disc players, TV set-top boxes and the Apple Macintosh computer.
- Netflix ends year with 9.4 million members, up 26 percent over 2007.
- Netflix partners with consumer electronics companies to stream on the PS3, Internet connected TVs and other Internet connected devices.
- Netflix awards the $1 million Netflix Prize to the “BellKor’s Pragmatic Chaos” team of seven researchers from four countries; over three years the contest has attracted more than 40,000 teams from 186 countries.
- Netflix ends the year with 12.3 million members, up 31 percent over 2008.
- Netflix is available on the Apple iPad, iPhone and iPod Touch, the Nintendo Wii, and other Internet connected devices.
- Netflix launches in Canada.
- Netflix ends year with 20 million members, up 63 percent from 2009.
- Netflix launches throughout Latin America and the Caribbean.
- Netflix surpasses 30 million members globally
- Netflix wins first Primetime Emmy Engineering Award
- Netflix launches in the United Kingdom, Ireland and the Nordics
- Netflix original series House of Cards launches
- Netflix launches in the Netherlands
- House of Cards wins three Primetime Emmy Awards
- Netflix now has over 40 million members globally”
*Information from Forbes.com and Netflix.com
**Video published on youtube.com by “Newsweek“