New York
CNN
—
Netflix is formally winding down the enterprise that helped make it a family title.
This fall, the streaming big will formally say goodbye to its DVD rental service and all the pink envelopes that made it attainable.
“On September twenty ninth, 2023, we are going to ship out the final pink envelope,” the corporate tweeted Tuesday. “It has been a real pleasure and honor to ship film nights to our fantastic members for 25 years.”
“Our aim has at all times been to supply one of the 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 submit Tuesday. “Making 2023 our Closing Season permits us to take care of our high quality of service by the final day and exit on a excessive word.”
The corporate reported a miss for its second-quarter earnings after market shut on Tuesday. Shares fell by round 6%.
