Netflix, Inc. is an American media and entertainment company founded on August 29, 1997, and headquartered at 121 Albright Way, Los Gatos, California, United States. Netflix’s 2024 Form 10‑K identifies the company as a Delaware corporation that operates a global streaming service offering TV series, films, and games, with about 302 million paid memberships in over 190 countries as of December 31, 2024.
Netflix 2024 Form 10‑K;
Britannica.
Origins and DVD‑by‑mail (1997–2006)
- –Netflix was co‑founded by Reed Hastings and Marc Randolph in 1997, initially as a mail‑order DVD rental business built around an online catalog and a subscription model with no late fees.
Britannica; [That Will Never Work](book://Marc Randolph|That Will Never Work: The Birth of Netflix and the Amazing Life of an Idea|Little, Brown and Company|2019).
- –Randolph’s account details early decisions such as testing discs by mail and the subsequent pivot to a subscription service that emphasized a personal queue and rapid fulfillment. [That Will Never Work](book://Marc Randolph|That Will Never Work: The Birth of Netflix and the Amazing Life of an Idea|Little, Brown and Company|2019).
- –A widely reported 2000 meeting with Blockbuster—where a proposed partnership/acquisition was rejected—became a turning point in Netflix’s competitive posture, as later recounted from Randolph’s book.
Vanity Fair; [That Will Never Work](book://Marc Randolph|That Will Never Work: The Birth of Netflix and the Amazing Life of an Idea|Little, Brown and Company|2019).
Transition to streaming (2007–2012)
- –Netflix introduced internet video streaming under the “Watch Now” feature in January 2007, initially on Windows PCs with a limited catalog and viewing hours per subscription tier.
Wired.
- –The company’s early streaming service complemented the DVD business but set the stage for a streaming‑first strategy and later original productions, as summarized in reference works and corporate filings.
Netflix 2024 Form 10‑K.
International expansion (2010–2016)
- –After first expanding outside the United States to Canada in 2010 and then to Latin America and parts of Europe in 2011–2015, Netflix undertook a major global launch on January 6, 2016, adding 130 countries and making the service available in almost every market worldwide except for certain territories such as mainland China and regions under U.S. sanctions.
Time.
- –Engineering coverage at the time described the company’s strategy to scale internet delivery efficiently using a dedicated content‑delivery network and ISP partnerships.
Original programming and industry impact (2013–)
- –Netflix released its first marquee original drama, House of Cards, on February 1, 2013, debuting all 13 episodes simultaneously and accelerating the “binge release” model.
The Guardian.
- –The series became one of the first online‑only productions to receive major Primetime Emmy nominations, signaling the emergence of streaming as a first‑tier production and distribution platform.
- –Netflix’s long‑term creative strategy and corporate culture—emphasizing “freedom and responsibility,” high talent density, and minimal controls—are documented in executive writings and the public Culture Memo. [No Rules Rules](book://Reed Hastings and Erin Meyer|No Rules Rules: Netflix and the Culture of Reinvention|Penguin Press|2020);
Netflix Culture Memo.
Service, plans, and paid sharing policy
- –Netflix operates a single streaming segment globally, deriving revenues primarily from monthly membership fees and offering multiple plan tiers, including an ad‑supported option and the ability (on certain tiers) to add “extra members” who live outside the account holder’s household for an additional fee.
Netflix Help Center—Plans & Pricing;
- –The ad‑supported tier, Basic with Ads, launched in November 2022 at $6.99 per month in the United States and select markets, with Microsoft as the exclusive technology and sales partner for advertising.
CNBC;
Microsoft Advertising blog.
Technology and infrastructure
- –To deliver video efficiently at scale, Netflix operates Open Connect, a content‑delivery program that partners with more than a thousand ISPs and deploys Open Connect Appliances (OCAs) within networks at no cost to qualifying partners, reducing transit and improving quality of experience.
Netflix Open Connect.
- –Netflix’s recommendation and personalization systems are an active area of engineering investment; in 2024–2025 the company described a “foundation model” approach to unify preference learning and improve downstream recommendation quality.
Netflix Tech Blog.
Corporate structure and leadership
- –As of December 31, 2024, Netflix’s named executive officers included co‑Chief Executive Officers Ted Sarandos and Greg Peters; Executive Chairman Reed Hastings (transitioning to non‑executive Chairman on April 17, 2025); Chief Financial Officer Spencer Neumann; and Chief Legal Officer David Hyman.
- –The company reported approximately 14,000 full‑time employees at year‑end 2024 with the majority based in the United States and Canada, operating as a single reportable segment.
Live programming and sports‑adjacent initiatives (2024–2025)
- –Netflix streamed two National Football League Christmas Day games in 2024 as part of a multi‑year arrangement that brought exclusive holiday matchups to the service, reflecting a broader push into live programming.
NFL.com;
Reuters.
- –Beginning January 2025, WWE’s Monday Night Raw moved to Netflix under a long‑term partnership, marking the first time the 31‑year‑old flagship program left linear television in key territories.
WWE press release;
AP News.
- –Netflix’s investor materials highlight live programming as one pillar of growth alongside advertising and games, consistent with its 2024 performance commentary.
End of the DVD service
- –Netflix discontinued its U.S. DVD‑by‑mail service on September 29, 2023, after mailing more than 5 billion discs since 1998; remaining subscribers were allowed to keep their final shipments.
TechCrunch;
Competition and regulation
- –Netflix identifies competition from linear TV, other subscription and ad‑supported streaming services, video gaming, and user‑generated content platforms, while noting that many consumers maintain simultaneous relationships across services.
- –The company reports increasing regulatory obligations in various jurisdictions, including cultural quotas, levies, and investment requirements that can affect cost structure and content offerings.
Selected works and culture
- –Executive and scholarly accounts describe Netflix’s culture and management practices—often summarized as “freedom and responsibility”—as central to organizational agility and creative output. [No Rules Rules](book://Reed Hastings and Erin Meyer|No Rules Rules: Netflix and the Culture of Reinvention|Penguin Press|2020);
Internal links: Reed Hastings, Marc Randolph, Blockbuster, House of Cards, Los Gatos, Amazon Prime Video, Disney+, WWE, National Football League.