Netflix declared the end of its DVD service due to declining revenue, with the service accounting for only a small portion of the company’s total earnings. CEO Ted Sarandos mentioned a 20% decrease in 2022 compared to the previous year, with the service generating around US$14.7 million. The closure had been previously announced in April of the same year.
What you should be aware of:
- Netflix revealed that it will shut down its DVD service this year and has just uploaded its final DVD.
- The company ended their service by releasing a tribute video and will now focus solely on streaming.
Netflix marked the conclusion of its journey by showcasing its history as a DVD rental trailblazer in a blog post. The post featured an infographic detailing the company’s key accomplishments spanning 25 years. Additionally, Netflix bid farewell to its DVD service through a video depicting red envelopes being mailed and customers enjoying movies while managing their queues, ending with a symbolic scene of a woman posting a red envelope in a mailbox.
Netflix will now concentrate solely on its streaming platform following the discontinuation of its DVD service, showcasing the notable shifts in the entertainment industry over time.
Netflix used to send DVDs through the mail, did you know that?
Netflix was established in 1997 but started as a DVD rental service through mail, before becoming the streaming platform it is today.
In 2007, Netflix introduced its online streaming service, which was a significant milestone in its history and led to its emergence as a top video streaming platform globally.