Netflix is a publicly traded company
Founded: 1997
Country of origin: USA
Industry: Streaming
Owner: Various, No majority owner
Type of Company: Public
Traded as: NFLX (Nasdaq)
Headquarters: Los Gatos, California, USA
Website: www.netflix.com
What is Netflix?
Netflix is an American content platform and production company specializing in streaming media and video-on-demand online and DVD by mail. It offers a wide array of films and television series, including those produced in-house. As of 2021, Netflix had over 200 million paid subscriptions worldwide, including 73 million in the United States.
It is available worldwide except in mainland China (due to local restrictions), Syria, North Korea, and Crimea (due to U.S. sanctions). The company also has offices in countries around the world. Netflix has played a prominent role in independent film distribution and is a member of the Motion Picture Association (MPA).
Current Ownership
Netflix is a publicly traded company on the Nasdaq stock exchange under the ticker symbol NFLX. The ownership of Netflix is primarily composed of institutional investors, which include various types of organizations that invest on behalf of their members or clients. These institutional investors often consist of pension funds, mutual funds, endowments, and insurance companies, among others.
The largest individual owner is founder Reed Hastings, who owns about 2% of the company
Netflix Ownership History
- 1997: Netflix was founded by Reed Hastings and Marc Randolph. Hastings invested $2.5 million into Netflix from the sale of Pure Atria.
- 2002: Netflix went public, selling 5.5 million shares of common stock at $15.00 per share.
- Post-2002: Following the IPO, ownership of Netflix diversified, with institutional investors acquiring significant shares.
Netflix leadership
This is the Netflix leadership at the time of writing:
- Ted Sarandos: Co-CEO, Director
- Greg Peters: Co-CEO, Director
- Reed Hastings: Founder and Executive Chairman, Director
- Spencer Neumann: Chief Financial Officer
- Sergio Ezama: Chief Talent Officer
- David Hyman: Chief Legal Officer
- Rachel Whetstone: Chief Communications Officer
- Elizabeth Stone: Chief Technology Officer
- Marian Lee: Chief Marketing Officer
- Bela Bajaria: Chief Content Officer
- Eunice Kim: Chief Product Officer
- Scott Stuber: Chairman of Netflix Films
- Amy Reinhard: President of Advertising
- Dean Garfield: Vice President of Public Policy
- Wade Davis: Vice President, Inclusion Strategy
- Minyoung Kim: Vice President of Content for Asia
- Francisco Ramos: Vice President of Latin American Content
- Pablo Perez De Rosso: Vice President of Strategy, Planning & Analysis and Content Finance
- Larry Tanz: Vice President, Content, EMEA (Europe, Middle East, Africa)
- Mike Verdu: Vice President, Games
- Spencer Wang: Vice President, Finance/IR/Corporate Development
- Maria Ferreras: Global Head of Partnerships
Netflix Assets
Netflix has made several strategic acquisitions over the years to bolster its position in the entertainment and media industry. Some of the most notable include:
- Animal Logic: An Australian animation studio, acquired in 2021.
- Night School: The maker of “Oxenfree”, acquired in 2021.
- Roald Dahl Story Company: Acquired in 2021, providing access to Roald Dahl’s literary titles for original programming.
Netflix History
- 1997: Founded by Reed Hastings and Marc Randolph, Netflix began as a DVD rental service where customers could rent DVDs via mail.
- 1999: Netflix transitioned to an online subscription service, offering a flat monthly fee for unlimited movie rentals.
- 2006: The company launched the $1 million Netflix Prize contest to improve its movie recommendation system. The prize was later won in 2009 by BellKor’s Pragmatic Chaos.
- 2007: Netflix introduced streaming, allowing subscribers to stream movies and TV shows directly to their homes. This service was unlimited for most subscription plans.
- 2015: Netflix underwent a 7:1 stock split and continued its international expansion, launching in Japan and other territories.
- 2016: At the Consumer Electronics Show, Netflix announced a significant expansion into 130 new territories. The company also started focusing on original content for kids.
- 2017: A study showed that the number of Netflix subscribers equaled that of all cable subscribers combined in the U.S.
- 2018: Netflix created Netflix Animation as its first production studio.
- 2019: The company announced the departure of popular shows like “Friends” and “The Office” from its platform in the U.S.
- 2021: Netflix launched its gaming platform, Netflix Games, initially available on Android with plans to expand to iOS.
- 2022: The company raised its subscription prices, leading to the loss of 1 million customers. It also acquired Boss Fight Entertainment, a mobile games developer.
- 2023: Co-founder Reed Hastings stepped down as CEO. Netflix also announced the wind-down of its DVD.com service.
Frequently Asked Questions about Netflix
When did Netflix start?
The company Netflix was founded in 1997 as an online DVD rental website, but it didn’t become a streaming service until 2007. That’s when they allowed their subscribers to stream movies and TV shows online.
How much is Netflix worth?
The valuation of Netflix will vary a lot, because it is a public company. To see the current price and other financial metrics, you can visit Yahoo finance to learn more.