Netflix was founded in 1997 by Reed Hastings and Marc Randolph. Reed Hastings got the idea when he owed 40 dollars to a Blockbuster for having the movie he rented for too long. Reed Hastings found this outrageous and thought "why do I have to pay 40 dollars for one movie?". He then observed that at a gym you payed 10 or 20 dollars a month and you could go as little or as often as you wanted to go. He then thought that he should make movie rental business with the same type of idea as the gym. At first his business was a small company that worked in California but after a few years the business was booming and it was being used all around the country. Today it is being used not just in America but other countries around the world, too, and it will continue to grow as time passes.
Reed Hastings is the father of Netflix and a downright genious. He practically built Netflix into what it is today and is responsible of keeping Netflix alive during the early days. Hastings had so much pride in Netflix that he offered a million dollar prize to whoever could find an algoritham to rate movies for the website. Hasting has even made it possible for subscribers to instantly stream movies over the internet, he figured that people liked watching movies more on their computers today. Ever since he created the company, Reed Hastings has been making it better and better any way possible, and he will continue to do so as long as he is with Netflix.
How Netflix Makes Money $$$
Netflix is huge company and in order for it to run it needs money. There are many ways how Netflix makes money and here are a few ways that they do it. Netflix charges about 10 dollars as a starting fee and you get to take out one movie at a time. But you can get upgrades for some more money so that you can get more than just one movie at a time. Another upgrade is to instantly watch movies on the Netflix website, this instantly streams movies through your computer for you to watch. Netflix has also had a new upgrade for Videogame consoles like the Xbox 360 and the Playstation 3, where a subscriber who owns one of these consoles can instantly stream movies and watch them on your TV. These are the ways that Netflix makes their money and funds their company.
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Stock Market Symbol Stock Exchange Traded On Price At Which the Stock Last Traded Netflix NFLX Nasdaq $207.40