Netflix, Inc.

This article is about the media company. For its main streaming service, see Netflix.
Netflix, Inc.
Company typePublic
Industry
FoundedAugust 29, 1997; 27 years ago (1997-08-29)
Founders
Headquarters
Los Gatos, California
,
U.S.
Key people
Products
BrandsNetflix
Services
RevenueIncrease US$33.7 billion (2023)
Increase US$6.95 billion (2023)
Increase US$5.41 billion (2023)
Total assetsIncrease US$48.7 billion (2023)
Total equityDecrease US$20.6 billion (2023)
Number of employees
c. 13,000 (2023)
Divisions
  • Domestic and International Streaming
  • Domestic DVD
Subsidiaries
WebsiteOfficial website
Footnotes / references
[1]

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 streaming media company to be a member of the Motion Picture Association.

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 crime drama Lilyhammer.

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.[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] 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,[14] Albuquerque,[15] London,[16] Madrid, Vancouver and Toronto.[17]

  1. ^ "US SEC: 2023 Form 10-K Netflix, Inc". U.S. Securities and Exchange Commission. January 26, 2024.
  2. ^ Pogue, David (January 25, 2007). "A Stream of Movies, Sort of Free". The New York Times. ISSN 0362-4331. Archived from the original on March 22, 2016.
  3. ^ Cite error: The named reference Netflixed was invoked but never defined (see the help page).
  4. ^ "Fortune 500: Netflix". Fortune.
  5. ^ "Forbes Global 2000: Netflix". Forbes.
  6. ^ Swartz, Jon (July 10, 2020). "Netflix shares close up 8% for yet another record high". MarketWatch.
  7. ^ Howard, Phoebe Wall (April 20, 2021). "Ford rated with Apple, Amazon, Pfizer in new consumer trust survey". Detroit Free Press.
  8. ^ Hough, Jack (December 18, 2019). "10 Stocks That Had Better Decades Than Amazon and Google". Barron's.
  9. ^ Fitzgerald, Maggie (December 13, 2019). "Here are the best-performing stocks of the decade". CNBC.
  10. ^ Donato-Weinstein, Nathan (December 11, 2012). "Netflix officially signs on to new Los Gatos campus". American City Business Journals.
  11. ^ Donato-Weinstein, Nathan (September 4, 2015). "Netflix seals big Los Gatos expansion". American City Business Journals.
  12. ^ Cite error: The named reference co-CEO 2020 was invoked but never defined (see the help page).
  13. ^ Shaw, Lucas (March 21, 2019). "Netflix's Power Base Shifts Closer to Hollywood". Bloomberg News.
  14. ^ Andreeva, Nellie (January 5, 2021). "Los Angeles Production Grinds To A Halt Amid Covid-19 Surge; Netflix Is Latest Major Studio To Pause Filming". Deadline.
  15. ^ Bishop, Bryan (October 8, 2018). "Amazon prime buys up New Mexico studio facility for massive new production hub". The Verge.
  16. ^ Clarke, Stewart (July 3, 2019). "Netflix Creates U.K. Film and TV Production Hub at Shepperton Studios". Variety.
  17. ^ Green, Jennifer (April 4, 2019). "Netflix Unveils New Projects, Plans for Growth in Spain at Production Hub Inauguration". Hollywood Reporter.