History of Netflix
In 1997, Reed Hastings and Marc Randolph had an idea to rent DVDs by mail. They tested the concept by mailing themselves a DVD. The DVD arrived intact, and the idea for Netflix was born. In 1998, Netflix.com, the first DVD rental and sales site, was launched. It was a big hit. In 1999, the Netflix subscription service debuted, offering members unlimited DVD rentals without due dates, late fees, or monthly rental limits, which is what people really wanted. In 2000, a personalized movie recommendation system was introduced, using members’ ratings on past titles to accurately predict future choices. In 2002, Netflix made its initial public offering (IPO), at a selling price of $1 a share under the NASDAQ ticker NFLX. In 2003, Netflix was issued a patent by the U.S. Patent & Trademark Office to cover its subscription rental services as membership surpasses 1 million! In 2005, the Profiles feature launched, allowing members to create different lists for different users and/or different moods. In 2006, the membership grew to 5 million! In 2007, streaming was introduced, allowing members to instantly watch series and films on several devices (Wii, computer, etc.) In 2008, Netflix partnered with consumer electronics brands to allow streaming on Xbox 360, Blu-ray players and TV set-top boxes. In 2009, after nearly three years and 40,000 submissions, the $1 million Netflix Prize is awarded to the team Bellkor's Pragmatic Chaos for improving the accuracy of recommendations by 10%. Streaming partnerships expand to internet connected TVs as membership surpasses 10 million. The Netflix Culture Deck is published. In 2010, Netflix arrived in Canada and streaming launched on mobile devices. The first dedicated kids experience debuted on streaming. In 2011, Netflix launched in Latin America and the Caribbean. The first Netflix button appeared on remote controls. In 2012, memberships reached 25 million members! It expanded into the United Kingdom, Ireland and the Nordic Countries. Netflix ventured into stand-up specials with 'Bill Burr: You People Are All the Same.' In 2013, the 'House of Cards,' 'Hemlock Grove,' 'Arrested Development' and 'Orange Is the New Black' ushered in the first slate of original series programming. 'House of Cards' went on to win three Primetime Emmy awards - the first for an internet streaming service. The Profiles and My List features debuted on streaming. In 2014, memberships surpassed 50 million and extends to Austria, Belgium, France, Germany, Luxembourg and Switzerland! Netflix began streaming in 4K Ultra HD. In 2015, our first original feature film ('Beasts of No Nation'), our first non-English original series ('Club de Cuervos') and our first Asian original ('Terrace House') debuted. Memberships extended to Australia, Cuba, Italy, Japan, Spain and New Zealand. Audio descriptions for the visually impaired launch with 'Daredevil.' In 2016, Netflix expanded to 130 new countries, bringing the service to members in more than 190 countries and 21 languages around the world! The Download feature was added for offline and on-the-go viewing. In 2017, memberships hit 100 million members globally! Netflix won its first Academy Award, for 'The White Helmets.' The introduction of interactive storytelling and the Skip Intro button gave members more choices to tailor their viewing experience. In 2018, Netflix was the most-nominated studio at the Emmys, winning 23 for series including 'GLOW,' 'Godless' and 'Queer Eye!' PIN protection is rolled out as part of several parental control enhancements. In 2019, Netflix won four Academy Awards, for 'ROMA' and 'Period. End of Sentence,' and debuted its first original animated film with 'Klaus.' New production hubs opened in London, Madrid, New York and Toronto. 'Bandersnatch' won the first major Emmy for an interactive title. In 2019, the top 10 lists debuted, allowing members to see what’s popular for the first time. Netflix was the most-nominated studio at the Academy Awards and Emmys. The Hardship Fund launched to aid creative community workers impacted by COVID-19, and two percent of our cash holdings moved to financial institutions supporting Black communities.
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About Netflix
Netflix is the world’s leading media streaming platform, operating in nearly every country in the world. It was one of the very first players in the streaming industry when it made the transition in 2007, and the bet has paid off with hundreds of millions of subscribers around the world. The streaming service was initially built on the back of licensed content from other distributors, but Netflix began funding its own original programming in 2013. The first of these all-new “Netflix Originals” was House of Cards, which broke new grounds for streaming-only media. Since then, Netflix has significantly ramped up the production of original content, putting a strain on its relationship with other publishers. Other new streaming services, like Amazon Prime Video, Hulu, and Disney Plus, have grown to become serious competitors, as well. Even so, Netflix remains the biggest fish in the pond. In fact, for many people, the brand has become synonymous with streaming, with phrases like “Netflix and chill” entering the public lexicon. A Netflix monthly subscription costs $8.99 for the Basic plan, $13.99 for Standard, and $17.99 for Premium. The Standard DVD and Blu-ray plan starts at $7.99 monthly, and the Premier plan starts at $11.99.
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