Business model Netflix, video store, VOD services, VOD market, blockbusters video, digital age, social value, series, movies on television, innovations, audiovisual content, Amazon, subscription, streaming
The story goes that after having to pay late penalties at a Blockbuster video store, Reed Hastings (CEO of Netflix) had the idea to launch a similar service, but rather to offer it as a subscription package. Netflix was launched in 1997 by Reed Hastings and Marc Randolph. At the time, it was an online DVD rental and purchase service that was delivered to your home, except for a new form of subscription. With this monthly subscription, customers rented as many DVDs as they wanted by mail order.
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