Netflix, Inc.
American media company / From Wikipedia, the free encyclopedia
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Netflix, Inc. is an American media company founded in 1997 by Reed Hastings and Marc Randolph in Scotts Valley, California and currently based in Los Gatos, California. It owns and operates an eponymous over-the-top subscription video on-demand service, which showcases acquired and original programming as well as third-party content licensed from other production companies and distributors. Netflix is also the first (and so far only) streaming media company to be a member of the Motion Picture Association.
Company type | Public |
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Industry | |
Founded | August 29, 1997; 26 years ago (1997-08-29) |
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Headquarters | , U.S. |
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Products |
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Brands | Netflix |
Services |
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Revenue | US$33.7 billion (2023) |
US$6.95 billion (2023) | |
US$5.41 billion (2023) | |
Total assets | US$48.7 billion (2023) |
Total equity | US$20.6 billion (2023) |
Number of employees | c. 13,000 (2023) |
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Subsidiaries |
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Website | Official website |
Footnotes / references [1] |
Netflix initially both sold and rented DVDs by mail, but the sales were eliminated within a year to focus on the DVD rental business.[2][3] In 2007, Netflix introduced streaming media and video on demand. The company expanded to Canada in 2010, followed by Latin America and the Caribbean. In 2011, the service began to acquire and produce original content, beginning with the political drama House of Cards.
The company is ranked 117th on the Fortune 500[4] and 219th on the Forbes Global 2000.[5] It is the second largest entertainment/media company by market capitalization as of February 2022[update].[6] In 2021, Netflix was ranked as the eighth-most trusted brand globally by Morning Consult.[7] During the 2010s, Netflix was the top-performing stock in the S&P 500 stock market index, with a total return of 3,693%.[8][9]
Netflix is headquartered in Los Gatos, California, in Santa Clara County,[10][11] with the two CEOs, Greg Peters and Ted Sarandos, split between Los Gatos and Los Angeles, respectively.[12][13][14] It also operates international offices in Asia, Europe and Latin America including in Canada, France, Brazil, the Netherlands, India, Italy, Japan, Poland, South Korea and the United Kingdom. The company has production hubs in Los Angeles,[15] Albuquerque,[16] London,[17] Madrid, Vancouver and Toronto.[18]