Netflix Inc. is shutting down its core business of delivering DVDs by mail, 25 years after revolutionizing home TV viewing.
The company will ship its final discs on Sept. 29, according to a statement Tuesday.
“Our goal has always been to provide the best service possible for our members, but as businesses shrink, that is becoming increasingly difficult,” said Ted Sarandos, co-chief executive officer.
The merchandise, devised by co-founders Reed Hastings and Mark Randolph, became a ritual for millions of customers who received red envelopes containing the disc in the mail. Some of the company’s earliest original productions were made in the DVD era.
In 2007, the company launched its own streaming business, which helped put Blockbuster Entertainment, the largest DVD rental chain, out of business.
Netflix shipped its first DVD, the horror-comedy classic Beetlejuice, in March 1998. Since then it has mailed over 5.2 billion discs. Its most popular title was the Sandra Bullock sports drama The Blind Side.
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Updated: April 19, 2023, 01:46 AM IST