Netflix (NFLX) perpetual market

Netflix is the world's leading subscription streaming service, which transformed how television and film are distributed and consumed. Founded in 1997 by Reed Hastings and Marc Randolph as a DVD-by-mail rental company, it pivoted to internet streaming in 2007 and then to producing its own original content, a strategy that turned it into a global entertainment studio with hundreds of millions of paying subscribers across nearly every country. Netflix's heavy investment in original series and films, and its data-driven approach to what viewers want, reshaped the media industry and pressured traditional broadcasters and studios into launching their own streaming services. After a period of slowing growth, it reignited results by cracking down on password sharing and introducing a cheaper advertising-supported tier, broadening its revenue beyond subscriptions. As the dominant pure-play streamer, Netflix is a bellwether for the shift of entertainment spending from traditional television to on-demand digital viewing.