My Interest
My interest in this company happened after my family switched from Blockbuster to Netflix for our main source of entertainment. Netflix also rose above Blockbuster, which showed how effective it has been in the economy. Specifically in this area, when our own Blockbuster went out of business because of the new modern way of having the movies sent the customer's home. This company also has multiple benefits such as mailing movies to their customers’home and instant viewing for some movies that furthered my interest. Also unlike other rental companies, Netflix does not have a late charge fee when the customer does not return the movie in s certain amount of days. Lastly, before investing in Netflix there was a huge spike in each share's value which made me feel that Netflix would be a great investment.
HIstory
In 1997, Marc Randolph, Mitch Lowe and Reed Hastings who all previously worked at Pure Software found Netflix in Scotts Valley,
California. The idea of the company bloomed when Hastings was charged a late fee for returning a movie after the due date. This was the start of Netflix and its website was launched on April 1998 for a pay-per-rental model to rent movies. Then, the company decided to start a monthly subscription in September 1999. Therefore, the company strives to have the reputation about a company with
unlimited rentals without due dates, late fees, shipping or handling fees, or per title rental fees.
The company lost large quantities of money the first few years but in 2003, Netflix finally made a substantial profit of $6.5 million and revenues of $275 million. The company has a wide diversity of movies that are available to their customers and ship about 1 million DVDs a day. They furthered their success by creating a personalized video-recommendation system based on ratings and reviews for their customers to help distinguish movies the viewers prefer.
In 2007, the company spread to the internet making it avalible to their customers to view movies online that made Netflix grow while
DVD sales fall from 2006 to 2011. In addition, with a program called Red Envelope Entertainment Netflix played a major role in independent film delivery and produced original subject with filmmakers. This program closed in 2008.
Overall, Netflix is one of the most successful movie distributors considering they mail our 190,000+ discs per day and has 24.4 million US subscribers or 30 million subscribers globally.
California. The idea of the company bloomed when Hastings was charged a late fee for returning a movie after the due date. This was the start of Netflix and its website was launched on April 1998 for a pay-per-rental model to rent movies. Then, the company decided to start a monthly subscription in September 1999. Therefore, the company strives to have the reputation about a company with
unlimited rentals without due dates, late fees, shipping or handling fees, or per title rental fees.
The company lost large quantities of money the first few years but in 2003, Netflix finally made a substantial profit of $6.5 million and revenues of $275 million. The company has a wide diversity of movies that are available to their customers and ship about 1 million DVDs a day. They furthered their success by creating a personalized video-recommendation system based on ratings and reviews for their customers to help distinguish movies the viewers prefer.
In 2007, the company spread to the internet making it avalible to their customers to view movies online that made Netflix grow while
DVD sales fall from 2006 to 2011. In addition, with a program called Red Envelope Entertainment Netflix played a major role in independent film delivery and produced original subject with filmmakers. This program closed in 2008.
Overall, Netflix is one of the most successful movie distributors considering they mail our 190,000+ discs per day and has 24.4 million US subscribers or 30 million subscribers globally.
Interesting Facts
- Founded in 1997
- 900 Employees at the headquaters
- 30 million streaming members
Location
Services allowed in:
100 Winchester Circle, Los Gatos, CA 95032, United States of America
- USA
- Canada
- Mexico
- South America
- United Kingdom
- Republic of
- Ireland
- Nordic countries except Iceland
100 Winchester Circle, Los Gatos, CA 95032, United States of America