Netflix

Netflix began in 1997 as a DVD-by-mail service, the brainchild of Marc Randolph and Reed Hastings. The company scrapped late fees and per-rental pricing in 1999, switching to a flat $15.95 monthly subscription that let customers keep discs as long as they wanted. That model killed Blockbuster's business and pushed Netflix to an IPO in 2002 at $15 a share. But Hastings always saw streaming as the real prize. The company launched its streaming platform in 2007, and by 2011 subscribers had jumped from 6 million to 23 million.

Netflix bet big on original content starting in 2013 with House of Cards, a political drama that proved a streaming service could produce award-winning television. That bet paid off: shows like Stranger Things, The Crown, and Squid Game became global phenomena, and Netflix Originals now dominate its library. The company's recommendation engine, built from 1,300 different taste clusters, personalizes the experience for each of its 260 million-plus subscribers across 190 countries.

In 2024 Netflix generated $39 billion in revenue, up 15.7% from the previous year. The company employs roughly 12,800 people, operates from its Los Gatos headquarters, and competes head-to-head with Disney+, Amazon Prime Video, and HBO Max. A controversial 2011 attempt to spin off its DVD business as Qwikster backfired badly, but Netflix recovered and kept growing. In 2023 co-founders Hastings stepped back as co-CEOs Ted Sarandos and Greg Peters took over day-to-day leadership. The company has since expanded into mobile gaming and live programming, and in a stunning move announced a $82.7 billion acquisition of Warner Bros. to combine its platform with the DC Universe, Harry Potter, and Friends libraries. [edit]