|Date of establishment||August 29, 1997.|
|Current CEO||Ted Sarandos|
|Area of Origin||California|
|Net worth||$5.768 Billion|
|Subscription fee||Starts from $8.99, $13.99, to $17.99 per month|
|Number of subscribers||203.7 million|
Netflix – the ultimate entertainment GURU:
It is the best service provider that allows many subscribers to stream shows that they find interesting. Netflix not only provides services like movies, documentaries, and dramas. But, also it is working as a production house. In addition to the content they post, they also make their own content.
The world-renowned billionaire was not so rich in his early days of life. He was born in a good family in 1960. The ordinary boy from Boston worked as a door-to-door vacuum cleaner before he mastered math from the Bowdoin College, followed by graduation from Stanford.
When he was 31 he introduced the software “Pure Software” with his fellows, which was a debugging tool for engineers. The software was a big success and this is what gave him money to start his big project “Netflix”. The story is unique like its name. The idea of Netflix came to his brilliant mind after a disastrous experience at a rental shop. The company received 239,000 subscribers in its first year. Surprising!!
Brief History of Netflix:
As mentioned earlier Netflix was founded by Reed in August 1997. They first tried out the idea of serving the entertainment on VHS tapes but unfortunately, the disks were expensive and way too delicate to be delivered anywhere.
Later they came up with the idea of DVDs. The idea worked like wonders. They used to rent and sell DVDs with movies and series inside, at that time they have not more than 30 employees. After this, they introduced another party for the entertainment lovers, “monthly subscriptions”. They introduced late fee, the rental fee per DVD, shipping and handling fee, etc.
By the year 2002-2005, they were into the process of growing rapidly. When they were selling 1 million DVDs per month. Later in 2007 they also started “streaming services”.
2013 was the year of luck when they had subscribers from over 40 countries worldwide and 24.1 million customers. It was the year 2018 when Netflix became one of the largest online platforms to stream entertainment for its customers, with 137 million subscribers.
Apart from this they still hold the “Netflix box” that is, DVD.com now. Reed has its claws in both the online world and the physical world.
Netflix’s Net worth:
The current net worth of Netflix is $5.768 billion, which is growing by 27.58% every year. The year 2020 has been the worst for everyone around the globe because of the pandemic but it is the exact opposite for Netflix. They gained almost 2.2 million new subscribers in it. Lucky, right? As people were sitting home in the pandemic the entertainment industry was on the run. The online streaming process is what kept people entertained and calm in times of pain and fear. So this year was a positive year for people at Netflix.
Type of content on Netflix
The best part is there is something for everyone. If you love action movies, Disney princesses, or rom-com, Netflix has got everything sorted for you. This is one of the main reasons that Netflix’s net worth has boomed in the past few years. People love some good entertainment. Here is a list of what they are showing:
- Drama series
- Standup Comedy
- Action movies
- Kids Series
You can leave Netflix playing your kid’s favorite movies as well, while you get your much-waited space. Don’t worry about the content you don’t want to show to your children. You can control what you want them to see by using the parental control option. When you make a separate profile for kids on your Netflix account they won’t have control over the account settings, the Netflix kids is easy to operate and has a logo that distinguishes it from the other profiles. They remove certain content from the profile and show carefully selected movies and series to their little subscribers.
If you want to start something as big as Netflix or if you are moved by the journey of how Netflix’s net worth changed into billions over these years, follow the example of Reed Hastings. This journey was not easy as stated above a lot of hardship and hard work are required to reach this certain point.
“Being an entrepreneur is about patience and persistence, not the quick buck, and everything great is hard and takes a long time,” – Reed Hastings, 2005.