Netflix is winding down its DVD enterprise after 25 years

New York

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

This fall, the streaming large will formally say goodbye to its DVD rental service and the entire crimson envelopes that made it attainable.

“On September twenty ninth, 2023, we’ll ship out the final crimson 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 purpose has at all times been to offer the perfect service for our members, however because the DVD enterprise continues to shrink, that’s going to turn out to be more and more troublesome,” co-CEO Ted Sarandos wrote in a blog post Tuesday. “Making 2023 our Ultimate Season permits us to keep up our high quality of service via the final day and exit on a excessive notice.”

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

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