Netflix ends subscriber-based DVD rental service

Streaming giant Netflix has ended its subscriber-based DVD rental service after mailing its final DVD rentals on September 29. "Netflix will mail its final DVD on September 29, 2023. But the red envelope remains an enduring symbol of our love of entertainment," Netflix wrote on X on Friday.

In April, the streaming giant announced to shut down its DVD rental business on September 29, saying the declining demand for physical rentals is making it "increasingly difficult" to provide the desired level of service.

Since shipping its first disc (Beetlejuice) in 1998, the company has shipped 5.2 billion films in those red envelopes to over 40 million customers, according to Engadget.

In 2007, Netflix introduced streaming on-demand, which quickly grew to become the company's most popular offering by 2009.

The rest is history, as Netflix gradually expanded to create its own streaming content and now has over 238 million subscribers.

While this is the end of an era, there is one silver lining.

In August, Netflix announced that anyone who still has a rental disc will be able to keep it and that they can even request up to 10 more films to help the company clear out its stock.

"We are not charging for any unreturned discs after 9/29. Please enjoy your final shipments for as long as you like!," Netflix said.

Meanwhile, Netflix added 5.9 million subscribers globally in the second quarter (Q2), with the US and Canada making up 1.17 million new members in the April-June period.

In May, the company launched paid sharing in more than 100 countries, representing more than 80 per cent of its revenue base.