Netflix’s famous red envelopes are headed to the recycling bin of history. The company announced the shutdown of the DVD-by-mail business Tuesday ahead of its first-quarter 2023 earnings repo…
The company announced the shutdown of the
Netflix’s revenue from the DVD-by-mail biz has — by design — steadily declined over the years, as the company wanted to push members toward the streaming service. In 2022, the DVD business generated $145.7 million , which represented just 0.5% of its total revenue. Netflix originally launched video-streaming in 2007, and originally that was part of its DVD-by-mail subscription plans. In 2011, Netflix made the disastrous decision to split Netflix streaming from the newly named Qwikster DVD-by-mail business — a move the company reversed after less than a month and slew of cancelations.
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