The Rise of Netflix
A Change in the Way We Watch... Everything
Founded way back in 1997 by Reed Hastings and Marc Randolph, Netflix has completely and utterly changed the way we think about watching movies, television, and well, everything in between, as the company has slowly risen to power over the past nineteen years. Beginning humbly with only thirty employees and nine hundred and twenty-five offerings available for fifty cents per rental through the mail, Netflix has continued growth since its inception almost unstoppable. Today Netflix not only offers to stream of thousands of movies and series' online through basically any device that connects to the internet but has also branched out into original content and even still provides mail DVD rentals, though there is now a much bigger offering. Below we'll take a look at the rise of the Netflix revolution and just what you need to start getting in on the action today.
Netflix soon dropped their single rent by mail model in 2000 after the introduction of their monthly subscription concept had proved popular. Since the inception of the subscription business model Netflix has become known for their reputation of unlimited flat -fee rentals without the fear of late fees, due dates, or shipping and handling costs. According to legend, it was suffering the penalties of those late fees that led Marc Randolph, an employee atPure Software, to found the company in the first place. After incurring forty dollars worth of late fees for the rental of the smash 1995 hit film Apollo 13, Randolph came up with the overall business model for Netflix and Reed Hastings, the founder of Pure Software, promptly invested $2.5 million from the recent sale of the company.
After a rocky first few years during which the company suffered substantial losses, by 2003 Netflix had started seeing the money come in, posting its first profit for a fiscal year earning $6.5 million on a two hundred and seventy-two million dollar revenue. In 2005 Netflix boasted a library of over 35,000 different films and the company was shipping out one million DVDs every day. However, by 2007 Netflix had delivered over two billion DVDs and had decided to take a step away from mail rentals to focus on streaming. Ultimately this decision led to the first original Netflix content, the Kevin Spacey led political thriller series House of Cards, debuting on the service in 2011. The company has expanded its original lineup greatly since that time with shows like Orange is the New Black, Stranger Things, and Sense8, many of which have been critically and commercially loved.
In its rise Netflix has completely changed the way we watch our favorite TV shows and movies with inexpensive subscription rates, a multitude of options, and tons of ways to watch. Available on your smartphone, tablet, laptop, and PC, as well as on many modern smart TVs and game systems such as the X-box one and Playstation 4, there is a way to enjoy Netflix's offerings for everyone. All you need to start enjoying Netflix now is a broadband internet connection, a device to stream the service on, and a paid subscription. Though a . 5 Megabits per second internet speed is required, it is recommended that you use a 1.5 MPS speed and a 3.0 MPS speed for HD quality streaming.
As a company, Netflix has allowed the world to watch our favorite movies and series' over and over again, as well as to develop new favorites from their massive selection, for a low-cost subscription fee. Since its founding in 1997 Netflix has continued to grow in popularity among fans and has continued to develop new and exciting ways to watch the movies and television we care about. With all of the services benefits and the easy and inexpensive set-up , it's clear why and how Netflix has changed the way we watch, well, everything.
Additional sources:
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