Netflix became the first streaming company to reach 100 million paid subscribers worldwide.
Netflix began in 1997 as a DVD-by-mail rental service founded by Reed Hastings and Marc Randolph. It introduced subscription streaming in 2007, gradually shifting its business from physical discs to internet-delivered video.
In April 2017, Netflix announced that it had passed 100 million members worldwide. Its international expansion, recommendation technology, and original productions helped it become one of the most influential global entertainment companies.
Netflix's market capitalization has fluctuated with subscriber growth, earnings, competition, and expectations for advertising and content costs. The company is sometimes described as a studio, but it remains primarily a subscription and streaming platform that also commissions and produces films and television series.