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Netflix, Inc. is an American over-the-top content platform and production company headquartered in Los Gatos, California. Netflix was founded in 1997 by Reed Hastings and Marc Randolph in Scotts Valley, California. The company's primary business may be a subscription-based streaming service offering online streaming from a library of films and tv series, including those produced in-house. As of October 2020, Netflix had over 195 million paid subscriptions worldwide, including 73 million within the us .[15] it's available worldwide except within the following: China (due to local restrictions), Syria, North Korea , and Crimea (due to US sanctions). it had been reported in 2020 that Netflix's operating income is $1.2 billion.[ the corporate has offices in France, the uk , Brazil, Netherlands , India, Japan, and South Korea . Netflix may be a member of the movie Association (MPA), producing and distributing content from countries everywhere the world .
Netflix's initial business model included DVD sales and rental by mail, but Hastings abandoned the sales a few year after the company's founding to specialise in the initial DVD rental business.[14][18] Netflix expanded its business in 2007 with the introduction of streaming media while retaining the DVD and Blu-ray rental business. the corporate expanded internationally in 2010 with streaming available in Canada, followed by Latin America and therefore the Caribbean. Netflix entered the content-production industry in 2013, debuting its first series House of Cards.
Since 2012, Netflix has taken more of a lively role as producer and distributor for both film and tv series, and thereto end, offers a spread of "Netflix Original" content through its online library. By January 2016, Netflix services operated in additional than 190 countries. Netflix released an estimated 126 original series and films in 2016, quite the other network or cable channel. Their efforts to supply new content, secure the rights for extra content, and diversify through 190 countries have resulted within the company racking up billions in debt: $21.9 billion as of September 2017, up from $16.8 billion from the previous year. $6.5 billion of this is often long-term debt, with the rest in long-term obligations. In October 2018, Netflix announced it might raise another $2 billion in debt to assist fund new content. On July 10, 2020, Netflix became the most important entertainment/media company by market capitalisation .
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