Netflix is winding down its DVD enterprise after 25 years

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New York
CNN

Netflix is formally winding down the enterprise that helped make it a family identify.

This fall, the streaming big will formally say goodbye to its DVD rental service and the entire pink envelopes that made it potential.

“On September twenty ninth, 2023, we are going to ship out the final pink envelope,” the corporate tweeted Tuesday. “It has been a real pleasure and honor to ship film nights to our great members for 25 years.”

“Our aim has all the time been to supply the very best service for our members, however because the DVD enterprise continues to shrink, that’s going to grow to be more and more tough,” co-CEO Ted Sarandos wrote in a weblog submit Tuesday. “Making 2023 our Closing Season permits us to take care of our high quality of service by way of the final day and exit on a excessive word.”

The corporate reported a miss for its second-quarter earnings after market shut on Tuesday. Shares fell by round 6%.

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