Netflix: Online Video Streaming Service that provides us Video on Demand. A few Years Ago we used to see Tv Channels or VCRs. But now we can see in just one click. But now as Netflix has introduced the Video on demand means whenever you want to see anything you just search and watch but it's not free of cost. You just need to have a subscription for this but once you have subscription you can watch the rest of the month. Netflix was started in 1998 with only 30 employees that time this company used to provide DVDs on rent.
The company was founded by Reed Hastings and Marc Randolph. In 1997 To watch a movie people used to go to the Movie theatre or used to take DVDs on rent. Once Reed Hastings took a DVD on rent but he was late to return it when he went to return he paid 40$ as a late fee, and he got sad. Once when he was at the gym thought about Gym Payment method that we just need to take a monthly subscription once in a month after that anytime we may come. He also thought to start his own business like this payment method he shared this idea with Marc Randolph and was also planning like this type of business and they both started their business on 14th April 1998. And the Netflix was the first company which used to provide Avail DVD & CD on rent. When the Company was launched at that time they had approx 925 DVDx and 30 employees. after 1 year means in the year of 1999 they started monthly subscription where customers can have a one-time monthly subscription and they can have any CD or DVD anytime and without Due date. In the year of 2004, Marc Randolph took retirement from the Netflix after those Reed hastings is the only here.
Till 2005 Netflix started serving around 1 million DVDs every day. However, the graph of this business had to come down cause the internet had started in the whole world. And just cause of it Netflix started the online streaming service in the year of 2007, and till the year of 2018, Netflix got 125 Million Subscribers. Netflix's market gap is more than 100 billion dollars. Now Netflix is serving every type of videos and now they've also started creating their own content. Now The Netflix is doing its business in more than 190 countries.