Netflix DVD business is ending this fall after 25 years

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Netflix is officially winding down the business that helped make it a household name.

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." "Our goal has always been to provide the best service for our members, but as the DVD business continues to shrink, that's going to become increasingly difficult," co-CEO Ted Sarandos wrote in a blog post Tuesday. "Making 2023 our Final Season allows us to maintain our quality of service through the last day and go out on a high note."

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

لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر:

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شكرًا لك على تعليقك. سيتم نشر تعليقك بعد مراجعته.

I miss the past.

Ummm 🤔 who new that was still a thing?🤨

I hope they still deliver VHS...

That was still a thing

The still mailed out DVDs? 🤯

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Netflix shutters DVD rental business after 25 yearsNetflix Inc. is calling it quits on DVD rental sales after 25 years. The streaming giant, whose DVD business shrank as it accelerated and exploded into... 👀 I didn’t know they were still doing that. Wait, what? They have way more movies that way. dvdnetflix Wow breaking news
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