Netflix, Inc

Essay by simmondm83University, Bachelor'sA, November 2014

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Devin Simmons

Accounting Perspectives

Professor Stolberg

10/31/2014

Complete Legal Name:

Netflix Incorporated (Netflix, Inc.)

My Interest in the Company:

I am interested in this company because I am an avid user of their product. I have been a customer of Netflix since I started my college career (6 years). Netflix has a seemingly unlimited number of movies and TV show, which is perfect for the time I get to relax. In my opinion, Netflix is a staple in the college student lifestyle; curing boredom, managing stress, and promoting procrastination. Most importantly, Netflix is the best wingman when you're entertaining a woman these days; simply play a horror or romance movie and its "smooth sailing" from there, especially for those guys who think talking in person is awkward-the social media gurus.

From a business point of view, I admire how quickly the founder was able to build the company so quickly.

Netflix is a well-known name, you can ask just about anyone and they will agree that they are familiar with the brand. Before doing this project, I was absolutely clueless to the number of companies that offer the same services as Netflix.

History: Information gathered from (11)

1997

Netflix.com, Inc. is formed in California by Reed Hastings and Marc Randolph.

1998

The Company begins offering DVD rentals and sales.

1999

Sales are halted; Group Arnault invests $30 million in the firm and a subscription plan begins.

2000

Revenue sharing contracts are signed with Warner Brothers and Columbia film studios. CineMatch is introduced; this is what helps makes recommendations to customers based on their viewing history.

2001

A partnership with Best Buy gives Netflix exposure in the chain's 1,800 stores.

2002

The Company goes public and changes its name to Netflix, Inc.

2003

Netflix gains 1,000,000 subscribers, and Netflix...