From DVD rental to media omnipresence and multiple awards : The rise of Netflix via its data use
TIMELINE
From DVD rental to media omnipresence and multiple awards : The rise of Netflix via its data use
Netflix and its streaming service has become a mainstay of the media today and has come a long way since it started out as a DVD rental delivery service . Here we look at key dates in its history and how it has evolved the way it uses data and algorithms to develop and bolster its success .
THE BIRTH OF NETFLIX PLAYER In 2007 , subscribers could start streaming movies and television shows directly to their homes through the Internet and the company also delivered its billionth DVD . In 2009 , Netflix streams overtook DVD shipments and it found the elusive algorithm , awarding $ 1,000,000 to the " BellKor ’ s Pragmatic Chaos " team .
200 20
1997 2006
STILL SPINNING DISCS Netflix started out as a US DVD rental company , sent to subscribers via courier . In
2000 , Netflix owners Hastings and Rndolph offered to sell the company to Blockbuster
LLC for $ 50 million . John Antioco , CEO of Blockbuster , thought the offer was a joke , saying " The dot-com hysteria is completely overblown .”
THE RACE FOR THE ALGORITHM On October 1 , 2006 , Netflix announced the Netflix Prize , $ 1,000,000 to the first developer of a videorecommendation algorithm that could beat its existing algorithm Cinematch , at predicting customer ratings by more than 10 %.
18 December 2021