Netflix, the popular streaming service, has announced that it will end its DVD rental business by the end of 2023. The company started renting DVDs by mail in 1998, before launching its online streaming platform in 2007.
Netflix said that it will stop accepting new DVD subscribers from January 1, 2022, and will gradually phase out its existing DVD customers over the next two years. The company cited the declining demand and rising costs of DVD operations as the reasons for its decision. Netflix thanked its loyal DVD customers for their support and said that it will focus on expanding its streaming content and features.
Netflix currently has about two million DVD subscribers in the US, down from a peak of 20 million in 2010. The company's streaming service has over 200 million subscribers worldwide.