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Netflix is winding down its DVD business after 25 years

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This fall, the streaming giant will officially say goodbye to its DVD rental service and all of the red envelopes that made it possible.

"On September 29th, 2023, we will send out the last red envelope," the company tweeted Tuesday."It has been a true pleasure and honor to deliver movie nights to our wonderful members for 25 years."

People are also reading… The company reported a miss for its second-quarter earnings after market close on Tuesday. Shares fell by around 6%.

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