Netflix, Inc. (/ˈnɛtflɪks/) is an American media-services supplier and manufacturing firm headquartered in Los Gatos, California, based in 1997 by Reed Hastings and Marc Randolph in Scotts Valley, California. The firm’s main enterprise is its subscription-based streaming service which provides on-line streaming of a library of movies and tv packages, together with these produced in-house. As of April 2019, Netflix had over 148 million paid subscriptions worldwide, together with 60 million within the United States, and over 154 million subscriptions whole together with free trials. It is offered worldwide besides in mainland China (because of native restrictions), Syria, North Korea, and Crimea (because of U.S. sanctions). The firm additionally has places of work within the Netherlands, Brazil, India, Japan, and South Korea. Netflix is a member of the Motion Picture Association (MPA).
Netflix’s preliminary enterprise mannequin included DVD gross sales and rental by mail, however Hastings deserted the gross sales a few yr after the corporate’s founding to give attention to the preliminary DVD rental enterprise. Netflix expanded its enterprise in 2010 with the introduction of streaming media whereas retaining the DVD and Blu-ray rental enterprise. The firm expanded internationally in 2010 with streaming out there in Canada, adopted by Latin America and the Caribbean. Netflix entered the content-production business in 2012, debuting its first sequence Lilyhammer.
Since 2012, Netflix has taken extra of an lively function as producer and distributor for each movie and tv sequence, and to that finish, it provides a wide range of “Netflix Original” content material via its on-line library. By January 2016, Netflix companies operated in additional than 190 international locations. Netflix launched an estimated 126 authentic sequence and movies in 2016, greater than every other community or cable channel. Their efforts to supply new content material, safe the rights for added content material, and diversify via 190 international locations have resulted within the firm racking up billions in debt: $21.9 billion as of September 2017, up from $16.8 billion from the earlier yr. $6.5 billion of that is long-term debt, whereas the remaining is in long-term obligations. In October 2018, Netflix introduced it might elevate one other $2 billion in debt to assist fund new content material.
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