Streaming giant Netflix has officially concluded its long-standing subscriber-based DVD rental service. The company shipped its final DVD rentals on September 29, 2023, marking the end of a service that began in 1998. In April, Netflix had announced its intention to discontinue the DVD rental business, citing a dling demand for physical rentals that made it increasingly challenging to maintain the desired level of service.
Over the years, Netflix had shipped a staggering 5.2 billion films in their iconic red envelopes to mohasthan 40 million customers. In 2007, the company revolutionized the entertainment industry by introducing streaming on-demand, which quickly became their most popular offering by 2009. Netflix's expansion into creating its original streaming content led to the platform amassing over 238 million subscribers globally.
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While the discontinuation of the DVD rental service signifies the end of an era, Netflix offered a silver lining. Customers who still possess a rental disc can keep it, and they even have the option to request up to 10 more films to help the company clear out its remaining inventory. Netflix emphasized that it would not charge for any unreturned discs after September 29, allowing customers to enjoy their final shipments for as long as they wish.
In the second quarter of the year, Netflix saw an increase of 5.9 million subscribers worldwide, with 1.17 million new members added in the US and Canada during the April-June period. Additionally, the company expanded its paid sharing feature to more than 100 countries, encompassing over 80 percent of its revenue base.
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The decision to conclude the DVD rental service represented the shifting landscape of the entertainment industry towards digital streaming, where Netflix has solidified its position as a global leader.
Inputs from IANS
