Netflix was conceived in 1997 by Reed Hastings (the current CEO) and Marc Randolph. Both had previous ventures in the West Coast tech scene, Hastings was the owner of debugging software firm Pure Atria, while Randolph had co-founded and then sold MicroWarehouse for $700 million. Originally a DVD-rental service, in the same vein as Blockbuster, Netflix broke ground with its mail order service. It introduced a subscription model at the turn of the millennium, which allowed subscribers to rent as many DVDs as they wanted, without incurring any additional costs which were the bane of many Blockbuster-fans lives. Even before the streaming service, Netflix was focused on recommendation algorithms and unique experiences through its website. Even with these advances in technology, Netflix was hit hard … Continue reading Netflix Revenue and Usage Statistics (2024)