Netflix

Netflix began in 1997 when Reed Hastings and Marc Randolph founded it in Scotts Valley, offering DVD rentals by mail. Its original business model replaced late fees with subscription plans, allowing customers to keep discs without fixed return deadlines indefinitely.

In 1999, Netflix introduced subscription service, separating its growing operation from traditional video-rental stores and their charges for individual rentals. The company mailed DVDs from distribution centers, using customers' online queues to determine which titles should ship next. Netflix launched streaming in 2007, initially adding internet viewing as a complement to DVDs rather than immediately abandoning physical media.

Its original series Lilyhammer premiered in 2012, starring Steven Van Zandt as an American mobster entering witness protection in Norway. In 2013, House of Cards and Orange Is the New Black established Netflix as a major producer of original television. House of Cards featured Kevin Spacey and Robin Wright, while David Fincher directed its episodes and served as executive producer. Orange Is the New Black adapted Piper Kerman's memoir, dramatizing women's lives inside a federal prison through an ensemble cast.

Netflix expanded internationally in 2016, making its streaming service available across numerous countries except China, North Korea, Syria, and Crimea. It commissioned productions beyond Hollywood, including Spain's La Casa de Papel, Germany's Dark, and South Korea's Kingdom, among other hits. La Casa de Papel, known internationally as Money Heist, began as a Spanish series before Netflix acquired and re-edited it.

The Korean survival drama Squid Game became Netflix's most-watched series, reaching 1.65 billion hours viewed during its first four weeks. Netflix's recommendation system uses viewing behavior, ratings, searches, and other signals to personalize rows and artwork for individual members differently.

The company introduced a lower-priced, advertising-supported plan in November 2022, adding commercials while retaining access to its catalog for subscribers. Netflix also entered gaming, launching mobile games in 2021 and making selected titles available through its membership without extra fees. Its games portfolio has included adaptations connected to Stranger Things alongside mobile games and interactive experiences based on Netflix properties.

Netflix's documentary work includes My Octopus Teacher, which won the Academy Award for Best Documentary Feature at the 93rd ceremony. In 2023, Netflix reported more than 260 million paid memberships worldwide, reflecting the scale of its subscription-based global business model. Today, Netflix combines licensed programming, original productions, advertising, games, and technological personalization within one internationally recognized entertainment platform used worldwide.