Who owns Netflix? A closer look at the people behind the brand
If you love watching movies and series, you have to know Netflix. Netflix is a production company that streams movies and TV shows. The California-based streaming entity has been in operation for the last two decades. But who owns Netflix? Due to its popularity, most people would like to know the people behind the brand.
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Netflix is a well-known service provider that streams various movies and television series in different genres and languages. It controls a vast market share, despite competition from other sites that offer the same services. The entertainment firm also produces their shows and movies. Most fans are curious to know who owns this vast entity.
History of Netflix
The entertainment company has a long history that dates back to the 90s. The company was founded on 29 August 1997 by Reed Hastings and Marc Randolph. It started as a DVD-by-mail rental company. It was previously known as Netflix, Inc., and was based in Scotts Valley, California, USA.
The company initially operated as a DVD subscription service, but later in 2007 grew into a streaming service provider. The company has grown tremendously by incorporating innovation, diversifying services and creating partnerships in the industry.
It is currently producing its content dubbed as "Netflix Originals." The company has an in-house production team of best actors, directors and writers. This global entertainment company has amassed over 230 million subscribers across 200 countries.
Who owns Netflix?
Netflix was a private company until February 2002, when it floated an IPO. As of 2023, the entertainment company is owned by shareholders as it is a publicly-traded company. It is owned by institutions as well as private investors.
Institutional investors
Who are the owners of Netflix? Although the answer to this question changes yearly, the majority shareholders of the company are institutions. The institutional investors currently own over 80% of the company. These institutions include:
1. Vanguard Group Inc.
Among the institutional shareholders, Vanguard Group Inc. is the majority investor. The brand has 35.5 million shares which is 7.66 % of Netflix. Vanguard Group is an American investment advisor with about $7.7 trillion in assets under management. It is primarily a mutual funds provider and the second-largest provider of ETFs.
2. BlackRock Inc.
Is Netflix owned by Blackrock? BlackRock Inc. is one of the institutions with shareholding at Netflix. It holds 27.7 million shares, which is 6.23% of the total shares.
3. Capital Research Global Investors
Capital Research Global Investors primarily focuses on actively managed funds. The company has over 18.5 million Netflix shares which represent 4.16 %. This makes it a key decision maker in the company.
Individual shareholders
Who owns Netflix now? The entertainment company has five main individual investors, including one of its founders Reed Hastings. Here are more details about them and the shares they own.
1. Reed Hastings
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Reed Hastings is the founder and ex-CEO of Netflix. He is also one of the wealthiest people in the entertainment business. With a net worth of $3.9 billion, he owns about 2% of Netflix's stock. He initially worked at Adaptive Technology before starting his own company Pure Atria.
Before his resignation as CEO, Reed Hastings was responsible for setting objectives and strategies at the subscription video on-demand over-the-top streaming firm. He was also behind innovative initiatives like "binge-watching" and the award-winning original series programming. Hastings' contribution has placed the streaming platform ahead of competitors. He continues to offer guidance to the company for its growth.
2. Ted Sarandos
Sarandos has been working at Netflix for the last two decades. He is the Chief Content Officer and co-CEO, together with Greg Peters. Due to his work, he has earned numerous performance-drive shares and bought other shares. In total, he owns 2% Netflix shares making him one of the largest individual shareholders in the company.
2. Leslie J. Kilgore
Leslie Kilgore is one of the top shareholders, with 35,196 shares. This number represents 0.02% of the company's total shares. Leslie is a non-executive member of the company's board and also served as the Chief Marketing Officer for 12 years.
4. David Hyman
David Hyman has a total of 31,610 shares, representing 0.01% of the total company's shares. He has served as the company's General Counsel and Secretary for two decades. He is responsible for legal affairs and public policy.
5. Greg Peters
Greg Peters is among the significant individual investors in Netflix's stock. He has 13,090 shares, representing less than 0.01% shareholding of the company's total shares. Peters has served as Chief Product Officer and Chief Operating Officer. He is the current Netflix's CEO after taking over from Reed Hastings.
Who is Netflix's CEO?
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The company has two CEOs, Ted Sarandos and Greg Peters. They recently took over from Reed Hastings, now an Executive Chairman.
What company owns Netflix
Netflix is a subscription video-on-demand streaming service owned and operated by Netflix, Inc. The company offers films and TV shows in various genres and languages.
Who owns Netflix? Netflix is a video streaming platform based in America. The company is a publicly traded outfit owned by institutions and private individuals. Since its initial IPO in 2002, the company has experienced growth, becoming the most popular streaming provider.
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