Netflix introduced a monthly subscription model in 1999 and dropped single rentals in 2000. This established their business model of unlimited rentals without due dates or late fees. In 2000, when Netflix had 300,000 subscribers relying on mail delivery, Blockbuster offered $50 million to acquire them but Netflix declined. Netflix has since grown to be a major media streaming service with over 150 million subscribers globally generating $15 billion annually in revenue.