New York
CNN
—
Netflix is formally winding down the enterprise that helped make it a family title.
This fall, the streaming large will formally say goodbye to its DVD rental service and all the pink envelopes that made it potential.
“On September twenty ninth, 2023, we’ll 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 objective has at all times been to supply the very best service for our members, however because the DVD enterprise continues to shrink, that’s going to develop into more and more tough,” co-CEO Ted Sarandos wrote in a weblog put up Tuesday. “Making 2023 our Last Season permits us to keep up our high quality of service by means of the final day and exit on a excessive be aware.”
The corporate reported a miss for its second-quarter earnings after market shut on Tuesday. Shares fell by round 6%.