Netflix, Inc.
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Netflix, Inc. is an American media company founded on August 29, 1997 by Reed Hastings and Marc Randolph in Scotts Valley, California, and currently based in Los Gatos, California, with production offices and stages at the Los Angeles-based Hollywood studios (formerly old Warner Brothers studios) and the Albuquerque Studios (formerly ABQ studios). It owns and operates Netflix, an eponymous over-the-top subscription video on-demand service, which showcases acquired and original programming as well as third-party content licensed from other production companies and distributors. Netflix is also the first streaming media company to be a member of the Motion Picture Association. Netflix initially both sold and rented DVDs by mail, but the sales were eliminated within a year to focus on the DVD rental business. In 2007, Netflix introduced streaming media and video on demand. The company expanded to Canada in 2010, followed by Latin America and the Caribbean. In 2011, the service began to acquire and produce original content, beginning with the crime drama Lilyhammer. The company is ranked 117th on the Fortune 500 and 219th on the Forbes Global 2000. It is the second largest entertainment/media company by market capitalization as of February 2022. In 2021, Netflix was ranked as the eighth-most trusted brand globally by Morning Consult. During the 2010s, Netflix was the top-performing stock in the S&P 500 stock market index, with a total return of 3,693%. The company has two CEOs, Greg Peters and Ted Sarandos, who are split between Los Gatos and Los Angeles, respectively. It also operates international offices in Asia, Europe and Latin America including in Canada, France, Brazil, the Netherlands, India, Italy, Japan, Poland, South Korea, and the United Kingdom. The company has production hubs in Los Angeles, Albuquerque, London, Madrid, Vancouver and Toronto.