News
Erik Gruenwedel
January 21, 2020
Renting DVD/Blu-ray Disc movies remains big business (and profitable) for Netflix.
The SVOD Behemoth launched in the late 1990s as a pioneering by-mail DVD movie rental company, taking on former brick-and-mortar heavyweights Blockbuster, Hollywood Video and Movie Gallery with a revolutionary Internet-based service.
While the company has put all its efforts into streaming video since 2007, it continues to cater to millions of DVD/Blu-ray Disc rental subscribers. Blockbuster & Co. shuttered operations years ago.
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Netflix ended 2019 with 2.1 million disc subscribers, which was down 553,000 from more than 2.7 million disc subs at the end of 2018. The service remains immensely profitable, generating $37.3 million operating income on revenue of $68.4 million. For the fiscal year, disc rentals generated $174 million operating profit on revenue of $297.2 million.
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