Netflix is easily one of the most well-known media services in the world right now, and it’s only slated to get bigger. It used to just be a movie subscription service where you could send out for a show or movie and return it once you’d watched it, but now it’s so much more than this.
Netflix has expanded into a production company as well, which means that it makes a lot of the movies that it shows. Let’s do a deep dive of Netflix and find out its current net worth.
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History
Netflix first got its start in 1997 in California and was created by Reed Hastings and Marc Randolph. The first concept was to offer VHS tapes, but they were too expensive and fragile to ship out, so they decided to go another route. After this, they came up with the idea of DVDs, and they started to test this concept of sending out and being returned DVDs on a subscription basis.
Netflix was officially launched in 1998 and they were the world’s first online DVD rental store. They had over 900 titles available to rent, and only about 30 employees. In 1999, they introduced the idea of a subscription service, where you could sign up for an ongoing subscription and receive a specific number of DVDs every month.
Their idea included no late fees or due dates, and they were losing money in the beginning with just 300,000 subscribers in the states. However, in 2002 they started to see an influx of subscribers.
They officially went public in 2002 and sold 5.5 million shares of common stock. The stock was priced then at $15 a piece. In 2005, Netflix had more than 35,000 movies that you could rent.
Netflix Now
The first time Netflix launched its video streaming service was in 2007. They decided to go with a streaming service instead of a box that downloaded movies overnight. When they started their streaming service, they only had 1000 titles, but by 2009 they had more than 12,000 shows and movies that you could watch.
Fast forward to 2013, and Netflix had more than 27 million streaming customers in the U.S. alone. By 2014, they had subscribers all over the world, and by 2018 they had 137 million customers worldwide. They have now become the most well-known video subscription service online.
When it comes to the DVD side of things, Netflix says that they have managed to acquire the website ‘DVD.com’, and surprisingly, their DVD service still has more than 3 million subscribers.
Netflix Net Worth
Netflix is said to be worth an eye-watering $125 billion. They currently have more than 150 million subscribers from all around the world, and while their shares fluctuate, they still project growth in 2021.
With an estimated net worth of $125 billion, it’s difficult to imagine that this video subscription company is going to go bust anytime soon, as it expands on its production company, and gets more subscribers every day.
