Business

The history of Netflix

Netflix

Late 90’s”

Netflix was born in 1997 in Los Gatos, California, thanks to computer engineer Reed Hastings , who after selling his company “Pure Software” decided to launch into a new business. The company was born as a service for renting DVDs, VHS and video games by mail. All you had to do was make the purchase from the website, choose the film and wait for the product to arrive for just $6.

This type of strategy, however, was not very successful, so the company decided to switch to an unlimited monthly subscription formula, choosing 3 films at a time with the possibility of being able to resist them in the same month.

With this new formula Netflix exploded.

Early 2000s”

  • In 2000, Netflix offered Blockbuster $50 million, which it refused. After fifteen years Netflix already had almost seventy million subscribers while Blockbuster went bankrupt…
  • In 2005, Netflix shipped a million DVDs a day; 
  • In 2007, he decided to add a video streaming platform with the same method, including the monthly subscription;
  • In 2009 it had a catalog of now 100,000 titles on DVD alone;
  • Also in 2009 it had exceeded 10 million subscribers.

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