Netflix

Balvir Singh, Journalist

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         Netflix, Inc. is an American media services provider and production company headquartered in Los Gatos, California, founded in 1997 by Reed Hastings and Marc Randolph in Scotts Valley, California. The company’s primary business is its subscription-based streaming service which offers online streaming of a library of films and television programs, including those produced in-house. As of April 2019, Netflix had over 148 million paid subscriptions worldwide, including 60 million in the United States, and over 154 million subscriptions total, including free trials. It is available worldwide except in mainland China (due to local restrictions), Syria, North Korea, and Crimea (due to U.S. sanctions). The company also has offices in the Netherlands, Brazil, India, Japan, and South Korea. Netflix is a member of the Motion Picture Association (MPA).

 

        Netflix’s initial business model included DVD sales and rental by mail, but Hastings abandoned the sales about a year after the company’s founding to focus on the initial DVD rental business. Since 2012, Netflix has taken more of an active role as producer and distributor for both film and television series, and to that end, it offers a variety of ‘Netflix Original’ content through its online library, including playable games like Black Mirror, You Vs Wild, and Minecraft Story mode. Their efforts to produce new content, secure the rights for additional content, and diversify through 190 countries have resulted in the company racking up billions in debt: $21.9 billion as of September 2017, up from $16.8 billion from the previous year.

 

        Netflix is one of the most well-known media services in the world. Over the years it has earned a lot of money from their subscriptions for countless content: Netflix Originals, movies, films, television programs, and playable games. Join Netflix and hype up all the fun with your friends!