Netflix is winding down its DVD business after 25 years

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Cnn
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Netflix officially wraps the company that has helped make a familiar name.

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

“On September 29, 2023, we will send the last red envelope”, the company tweeted Tuesday. “It was a real pleasure and honor to deliver cinema evenings to our wonderful members for 25 years.”

“Our goal has always been to provide the best service to our members, but as the DVD company continues to shrink, this will become more and more difficult,” the CO-PDG Ted Sarandos on Tuesday wrote in a blog article. “Making 2023 our last season allows us to maintain our quality of service until the last day and to go out on a high note.”

The company reported a lack for its second quarter revenues after the closing of the market on Tuesday. Actions dropped by around 6%.