When Reed Hastings and Marc Randolph founded Netflix, then known as Kibble, in 1997, I bet they never anticipated that they were starting a multi-billion dollar business. Their business idea which was simply an upgrade to the DVD rental business has grown to become one of the biggest TV and movie studios in the world. Today, Netflix is worth over $200 billion and has more subscribers than all the cable TV channels in America combined. To be more precise, as of the second quarter of 2020, the company had more than 72 million users in the US and 192.95 million paying streaming subscribers worldwide.

How did Netflix go from just renting out movies to making them in just 20 years? In this video, we will examine the Netflix story, the company’s growth, and of course, draw some business lessons.

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