It’s the end of an era, folks. For many of us, the words “Netflix” and “movie night” used to be inextricably linked with the arrival of a bright red envelope. Now, after 25 years of delivering entertainment directly to our doorsteps, the streaming giant is officially closing the chapter on its DVD rental service.
The company announced Tuesday that the final red envelope will be mailed out on September 29th, 2023. That’s right, the DVD days are numbered. Netflix is moving on, focusing solely on its streaming platform.
In a blog post, Co-CEO Ted Sarandos acknowledged the bittersweet moment, writing, “Our goal has always been to provide the best service for our members, but as the DVD business continues to shrink, that’s going to become increasingly difficult. Making 2023 our Final Season allows us to maintain our quality of service through the last day and go out on a high note.”
This news comes on the heels of a challenging second quarter for Netflix, with company’s shares dipping by around 6% after market close on Tuesday. While the market reaction reflects the challenges, the move also signals a finalization of the digital transition for the streaming giant. The red envelopes, once synonymous with Netflix, are heading into the sunset.
