• 1 minute Read


For streaming itself into a $9 billion powerhouse (and crushing Blockbuster)

While most customers receive Netflix DVDs in the trademark red envelopes seen here, an increasing number are streaming films on media devices. 20 Million Subscribers Photograph courtesy of: Netflix.com

A: Netflix goes public on May 23, 2002. Skeptics wonder if it will be another dotcom failure, given rumors of a competing online subscription service from Blockbuster, the rental king.

B: In 2010, Blockbuster busts. Its stock is delisted from the NYSE in July. Ten weeks later, on September 23rd, it files for Chapter 11 bankruptcy.

C: By the end of 2010, Netflix appears unstoppable. It now streams to more than 200 devices, including the Xbox 360, PlayStation 3, TiVo, and iPad. The market applauds: Shares of NFLX soared 229% during 2010.


More Stories