Netflix (nasdaq: NFLX) is an online DVD and Blu-ray Disc rental service, offering flat rate rental-by-mail and online streaming to customers in the United States. Established in 1997 and headquartered in Los Gatos, California, it has amassed a collection of 100,000 titles and approximately 10 million subscribers. The company has more than 55 million discs and, on average, ships 1.9 million DVDs to customers each day. Netflix previously claimed to spend about $300 million a year on postage. On February 25, 2007, Netflix announced the billionth DVD delivery. Two years later, on April 2, 2009, the company announced that it had mailed its two billionth DVD, and awarded the recipient with a complimentary lifetime membership. It topped the ForeSee Results' Top 100 Online Retail Satisfaction Index with an American Customer Satisfaction Index score of 86, well over the industry average of 75.
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Netflix (nasdaq: NFLX) is an online DVD and Blu-ray Disc rental service, offering flat rate rental-by-mail and online streaming to customers in the United States. Established in 1997 and headquartered in Los Gatos, California, it has amassed a collection of 100,000 titles and approximately 10 million subscribers. The company has more than 55 million discs and, on average, ships 1.9 million DVDs to customers each day. Netflix previously claimed to spend about $300 million a year on postage. On February 25, 2007, Netflix announced the billionth DVD delivery. Two years later, on April 2, 2009, the company announced that it had mailed its two billionth DVD, and awarded the recipient with a complimentary lifetime membership. It topped the ForeSee Results' Top 100 Online Retail Satisfaction Index with an American Customer Satisfaction Index score of 86, well over the industry average of 75.
Services
As of July 24, 2007, Netflix's most popular plan cost US $16.99 (plus tax) per month, allowing a subscriber to rent up to three DVDs at a time, with unlimited exchanges. Other monthly plans range from US $4.99, for one disc at a time and a limit of two per month, to US $47.99 for eight with unlimited exchanges. For the three-out and eight-out plans, each rental slot costs the subscriber approximately US $6 a month. Netflix also sells gift subscriptions for various renting intervals, although the recipient must register using a major credit or debit card.
Netflix offers their subscribers access to Blu-ray Discs for an additional fee depending on subscription package citing the additional cost of Blu-ray titles as the reason for the fee. This is a change from the original Blu-Ray fee implemented November 21, 2008. The new Blu-Ray pricing scheme came into effect for billing cycles ending April 27, 2009.
In addition to its movie rental service, Netflix formerly sold used DVDs to its subscribers. The purchase was delivered via the same system and billed using the same payment method as the subscriber's rentals. This service was discontinued at the end of November 2008.
Watch Instantly
Netflix has a "Watch Instantly" feature available to eligible subscribers. The feature enables subscribers, at no additional cost, to stream near-DVD quality movies and recorded television shows instantly, depending on the subscriber's internet connectivity. Initially, the feature offered subscribers one hour of media for approximately every dollar they spent on their subscription. (A $16.99 plan, for example, entitled the subscriber to 17 hours of streaming media.) In January 2008, however, Netflix lifted this restriction. Virtually all subscribers now are entitled to unlimited hours of streaming media at no additional cost. Only subscribers with a plan of $4.99/two DVDs per month, one DVD at a time, aren't provided unlimited access to the streaming service. (They are allowed two hours.) The new terms of the service are a response to the introduction of Apple's new video rental services.
