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Netflix, Inc. is an American top content platform and creation company settled in Los Gatos, California. Netflix was founded in 1997 by Reed Hastings and Marc Randolph in Scotts Valley, California. The company's essential business is a subscription-based streaming feature offering online streaming from a library of movies and TV series, including those produced in-house. In January 2021, Netflix arrived at 203.7 million subscribers, including 66 million in the United States.
It is available worldwide except in the following: mainland China (due to local restrictions), Syria, North Korea, and Crimea (because of US sanctions). It was reported in 2020 that Netflix's operating income is $1.2 billion. The company has offices in England, France, Brazil, Netherlands, India, Japan, and South Korea. Netflix is a member from the Motion Picture Association (MPA), producing and distributing content from nations everywhere on the globe
Netflix's initial business model included DVD sales and rental via mail, but Hastings abandoned the sales about a year after the organization's founding to focus on the initial DVD rental business. Netflix extended its business in 2007 with the presentation of streaming media while retaining the DVD and Blu-ray rental business. The company expanded internationally in 2010 with streaming available in Canada, followed by Latin America and the Caribbean. Netflix entered the content-creation industry in 2013, debuting its first series House of Cards.
Since 2012, Netflix has taken more of an active role as producer and distributor for both film and TV series, and keeping that in mind, offers a variety of "Netflix Original" content through its online library. By January 2016, Netflix services worked in more than 190 countries. Netflix delivered estimated 126 original series and movies in 2016, more than any other network or cable channel.
Their efforts to create new content, secure the rights for extra content, and differentiate through 190 countries have resulted in the company racking up billions in debt: $21.9 billion as of September 2017, up from $16.8 billion from the past year. $6.5 billion of this is long term debt, with the remainder in long term obligations. In October 2018, Netflix reported it would raise another $2 billion in debt to help fund new content. On July 10, 2020, Netflix became the biggest entertainment/media organization by market capitalization.
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