Netflix, Inc. is an American pay television over-the-top media service and original programming production company. It offers subscription-based video on demand from a library of films and television series, 40% of which is Netflix original programming produced in-house. Netflix has also played a prominent role in independent film distribution. As of October 19, 2021, Netflix had 214 million subscribers, including 74 million in the United States and Canada, 70 million in EMEA, 39 million in Latin America, and 30 million in Asia-Pacific. It is available worldwide except in mainland China (due to local restrictions), Syria, North Korea, and Crimea (due to US sanctions). Netflix is a member of the Motion Picture Association (MPA).
Netflix was founded in 1997 by Reed Hastings and Marc Randolph in Scotts Valley, California. 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/video on demand. The company expanded to Canada in 2010, followed by Latin America and the Caribbean. Netflix entered the content-production industry in 2013, debuting its first series House of Cards. In January 2016, it expanded to an additional 130 countries and then operated in 190 countries.
The company is ranked 164th on the Fortune 500 and 284th on the Forbes Global 2000. It is the largest entertainment/media company by market capitalization. In 2021, Netflix was ranked as the 8th most trusted brand globally by Morning Consult. During the 2010s decade, Netflix was the top-performing stock in the S&P 500 stock market index, with a total return of 3,693%.Netflix is headquartered in Los Gatos, California, in Santa Clara County, with the two CEOs, Hastings and Ted Sarandos, split between Los Gatos and Los Angeles, respectively. The company is seen as part of the Silicon Valley high-tech world. It also operates international offices in Asia, Europe, and Latin America including in Canada, France, Brazil, the Netherlands, India, Japan, South Korea, and the United Kingdom. The company has production hubs in Los Angeles, Albuquerque, London, Madrid, Vancouver and Toronto.