Netflix was an American over-the-top (OTT) video streaming service that originally began as a physical movie rental service in stores across the United States in 2000. Breaking ground in 2007, it became the first over-the-top video streaming service and dominated the streaming industry for over a decade until the emergence of competitors and other streaming platforms.
During its prime, Netflix produced popular programs including Orange is the New Black and House of Cards, as well as a wide range of movies. However, the rise of competition posed significant challenges. Starting from 2020, films produced by major studios gradually departed from Netflix, intensifying between 2021 and 2023, with 20th Century Fox being the final studio to withdraw its content. This exodus severely impacted Netflix's standing in the industry.
Financial troubles plagued the company, leading to its declaration of Chapter 11 bankruptcy protection in October 2023. On March 1, 2024, Netflix shut down.