Netflix is currently the world's largest OTT streaming service. It has a vast content catalog. It has a library of more than 3000 films and shows of various genres.
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Growth of Netflix:
Netflix was founded in 1997 by two American entrepreneurs, Reed Hastings and Marc Randolph, in Scotts Valley, California. The concept behind the launch of Netflix was to sell/rent DVDs via mail. During the initial years, Netflix offered per-rental models for each DVD. Later, the concept of monthly subscription was introduced.
Netflix was issued a patent in 2003 to cover its subscription rental service and several other extensions. in the same year, it posted its first profit. by 2005, about 35000 different films were available on the Netflix platform. It shipped 1 million DVDs out every single day.
Netflix officially launched the streaming media service in January 2007. Soon after, Netflix collaborated with various media giants like Disney, sony pictures television, cartoon network, and marvel television. Initially, it had only a thousand films available for streaming on the internet.
At present, Netflix is operating in all the countries of the world. It has its headquarters in Los Angeles, Los Gatos, and new york city.
By February 2013, Netflix had become a significant distributor of animated family and kids shows. In July 2013, orange is the new black was debuted, which soon became the most watched original series on the Netflix platform.
In 2018, Netflix pulled out of the Cannes film festival. Since then, several Netflix original series was debuted on the platform, which marked a remarkable boost in its subscribers. Sex education, the kissing booth, stranger things, and squid games are a few of the most popular Netflix original series.
No wonder Netflix has become the most incredible OTT platform and has succeeded effortlessly in replacing cable connections.
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