Netflix, Inc. is an American pay television over-the-top media service and original programming production company. It offers subscription-based video on demand from a library of films and television series, 40% of which is Netflix original programming produced in-house. Netflix has also played a prominent role in independent film distribution. As of October 19, 2021, Netflix had 214 million subscribers, including 74 million in the United States and Canada, 70 million in EMEA, 39 million in Latin America, and 30 million in Asia-Pacific.[10][11] It is available worldwide except in mainland China (due to local restrictions), Syria, North Korea, and Crimea (due to US sanctions). Netflix is a member of the Motion Picture Association (MPA). Netflix can be accessed via internet browser on computers, or via application software installed on smart TVs, set-top boxes connected to televisions, tablet computers, smartphones, digital media players, Blu-ray Disc players, video game consoles, and virtual reality headsets on the list of Netflix-compatible devices.[12][13][14][15] It is available in 4K resolution.[16] In the United States, the company provides DVD and Blu-ray rentals delivered individually via the United States Postal Service from regional warehouses.[17]
Netflix was founded in 1997 by Reed Hastings and Marc Randolph in Scott Valley, California. Netflix initially both sold and rented DVDs by mail, but the sales were eliminated within a year to focus on the DVD rental business.[18][19] In 2007, Netflix introduced streaming media/video on demand. The company expanded to Canada in 2010, followed by Latin America and the Caribbean. Netflix entered the content-production industry in 2013, debuting its first series, House of Cards. In January 2016, it expanded to an additional 130 countries and then operated in 190 countries. The company is ranked 164th on the Fortune 500[20] and 284th on the Forbes Global 2000.[21] It is the largest entertainment/media company by market capitalization.[22] In 2021, Netflix was ranked as the 8th most trusted brand globally by Morning Consult.[23] During the 2010s decade, Netflix was the top-performing stock in the S&P 500 stock market index, with a total return of 3,693%.[24][25]
Netflix is headquartered in Los Gatos, California, in Santa Clara County, [26][27] with the two CEOs, Hastings and Ted Saran dos, split between Los Gatos and Los Angeles, respectively.[28][29] The company is seen as part of the Silicon Valley high-tech world.[30] It also operates international offices in Asia, Europe, and Latin America including in Canada, France, Brazil, the Netherlands, India, Japan, South Korea, and the United Kingdom. The company has production hubs in Los Angeles, [31] Albuquerque, [32] London, [33] Madrid, Vancouver and Toronto.[34] Compared to other distributors, Netflix pays more for TV shows up front, but keeps more upside on big hits.[35][36]The company is ranked 164th on the Fortune 500[20] and 284th on the Forbes Global 2000.[21] It is the largest entertainment/media company by market company. Netflix is headquartered at Los Gatos, California. It is the largest entertainment company. In 1998, Randolph and Hastings met with Jeff Bezos, where Amazon.com offered to acquire Netflix for between $14 and $16 million. Fearing competition from Amazon, Randolph at first thought the offer was fair, but Hastings, who held a major 70% of the company, turned it down on the plane ride home.[45][46] In September 2000, during the dot-com bubble, while Netflix was suffering losses, Hastings and Randolph offered to sell the company to Blockbuster LLC for $50 million. John Antioch, CEO of Blockbuster, thought the offer was a joke and declined, saying "The dot-com hysteria is completely overblown".[47][48] While Netflix experienced fast growth in early 2001, the continued effects of the dot-com bubble collapse and the September 11 attacks caused the company to hold off plans for its initial public offering (IPO) and to lay off one-third of its 120 employees.[49]
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