What is Netflix?
Netflix is an online service that let’s you rent DVDs or stream movies instantly over the internet. Like to watch movies or TV shows? Whether you’re on the internet or just have a normal DVD player, Netflix can get movies directly to your door. Remember Blockbuster or your local video rental store? Well, Netflix is basically the modern day version of your local movie rental shop, just that instead of renting by the movie, you pay a monthly subscription for the service. Now that Blockbuster is out of business, Netflix has seem a number of competitors join them, ranging from TV Anywhere to RedBox.
Netflix was founded in 1997 by Marc Randolph and Reed Hastings. The two founders grew Netflix from a small pay-per-rental DVD company to a media monolith and force to be reckoned with in the entertainment industry. The company offers two primary services: DVD by mail and streaming. DVD by mail is a strong business for Netflix but is wholly separate from their streaming business. The DVD business even has a completely separate headquarters from the rest of the Los Gatos, CA company. The streaming business is the future in the eyes of Netflix but they’ve been stung by fierce competition with companies like RedBox, Hulu, YouTube, and even Amazon.com.
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