Netflix, Inc. is an American over-the-top content platform and production company headquartered in Los Gatos, California. Netflix was founded in 1997 by Reed Hastings and Mark Randolph in Scotts Valley, California. The company’s primary business is a subscription-based streaming service offering online streaming from a library of movies and television series, including those produced in-house. In April 2021, Netflix had 208 million subscribers, including 74 million in the United States and Canada.
It is available worldwide except in mainland China (due to local sanctions), Syria, North Korea and Crimea (due to US sanctions). The company has offices in Canada, France, Brazil, the Netherlands, India, Japan, South Korea and the United Kingdom. Netflix is a member of the Motion Picture Association (MPA), which produces and distributes content from countries around the world.On June 3, 2021, Netflix announced Mumbai, India, the home of the first live action post-production facility globally, to be unveiled in 2022.
Netflix’s initial business model included DVD sales and rental by mail, but Hastings dropped the sale about a year after founding the company, to focus on the initial DVD rental business. Netflix expanded its business in 2007 with the introduction of streaming media while maintaining the DVD and Blu-ray rental business.
The company expanded internationally in 2010 with streaming available in Canada, followed by Latin America and the Caribbean. Netflix entered the content-production industry in 2013, launching its first series, House of Cards.
Since 2012, Netflix has taken a more active role as a producer and distributor for both film and television series, and to that end, offers a variety of “Netflix Original” content through its online library.
As of January 2016, Netflix services were operating in over 190 countries. Netflix released an estimated 126 original series and movies in 2016, more than any other network or cable channel. As of December 31, 2020, the company had $16 billion in long-term debt,
which he had deposited for his growth. The company is ranked 164th in the Fortune 500 and 284th in the Forbes Global 2000. On July 10, 2020, Netflix became the largest entertainment/media company by market capitalization.
In 2012, Netflix was ranked as the 8th most trusted brand globally by Morning Consult. During the decade of the 2010s, Netflix was the top-performing stock in the S&P 500 stock market index, with an overall return of 3693%
As of 2017, Netflix’s shares were held primarily by institutional investors, including Capital Research Global Investors, The Vanguard Group, BlackRock and others.