Netflix was founded in 1998 in California by Reed Hastings and Marc Randolph as a DVD rental service delivered by mail. It expanded in 1999 to allow online ordering and streaming. The company grew from 30 employees in its early years to over 5,000 by 2017, showing successful development. Netflix launched its original series like 13 Reasons Why, Riverdale, and Stranger Things. The company's revenue increased significantly from $193 million in 2005 to $3.701 billion in 2018, demonstrating strong financial growth. Netflix expanded its subscriber base internationally, growing from only US customers in 2007 to nearly half of subscribers being international by 2016.
2. Background
Netflix was founded by Reed Hastings and Marc Randolph
in 1998 in California which started with rental DVD
services. It started the business of their website instead of
renting DVD since 1999 (Referenceforbusiness, 2018).
This company started with only 30 staffs till 2017 it had
almost five thousand employees which showed the
successful of its development (statista, 2018).
3. History
Netflix was a company which started with DVD renting through mail.
Where customers can rent email on their website and it will deliver to
your mail box. And Netflix was the first company to do so.
In order expand their business, Netflix offer subscribe service for
customers in late 1999.
Customers can subscribe for a month and pre-order four DVDs which
they do not have to pay for late fee and no due date.
Base on this idea and further expand, they made quite a successful
business. In 2003, they had over one million subscribers.
(Referenceforbusiness, 2018)
5. Netflix revenue 2005-2018
(ycharts, 2018)
This shows the revenue range from 2005 to 2018 which also shows the
revenue for, 193 million in 2005 to 3.701 billion in 2018 March. This
means there is a significant improvement of their revenue during these
years.
6. Numbers of subscribers 2007-2016
(businessinsider, 2017)
This graph shows the numbers of subscribers on Netflix from 2007 to 2016.
Where it show it was only used in the US at the beginning. Then, it expanded
into international business in 2011. And in 2016, there were almost half of the
subscribers are international.
7. Bibliography
businessinsider. (2017). Retrieved July 11, 2018, from businessinsider:
http://uk.businessinsider.com/netflix-subscribers-chart-2017-1?r=US&IR=T
netflix. (2018). Retrieved July 06, 2018, from netflix: https://www.netflix.com/ie/originals
Referenceforbusiness. (2018). Retrieved July 06, 2018, from Referenceforbusiness:
http://www.referenceforbusiness.com/history2/81/Netflix-Inc.html
statista. (2018). Retrieved July 06, 2018, from statista:
https://www.statista.com/statistics/587671/netflix-employees/
ycharts. (2018). Retrieved July 06, 2018, from ycharts: https://ycharts.com/companies/NFLX/revenues