On this day 29 August 1997, Netflix – the world’s largest streaming service by subscriber count was launched as a company that rents DVDs.
Today it is the biggest streaming service company found in almost every country in the world except China, Crimea, North Korea, Russia and Syria.
What made the company popular was its business model of flat-fee unlimited rentals without due dates, late fees, shipping and handling fees, or per-title rental fees.While customers enjoyed the convenience, it was very important to Netflix that it did not have to store or ship the DVDs; subscribers’ homes acted as warehouses.
