The Latest Breaking News from Ted Sarandos

Netflix will invest $2.5 billion in South Korean content over the next four years, the streaming giant's CEO Ted Sarandos announced after meeting with the country's President Yoon Suk Yeol in Washington. South Korea has cemented its status as a global cultural powerhouse in recent years, thanks in part to…

Announcement comes as South Korean President Yoon Suk-yeol is on a six-day visit to the United States.

Streaming giant calls time on the iconic red envelopes that used to be a familiar sight to posties up and down the country

The CEO says the company wants to end the service on a "high"

In a blog post titled “Netflix DVD – The Final Season”, the Netflix boss hailed the “iconic red envelopes” as having “paved the way” for the shift to streaming

Streaming giant Netflix has said it will "wind down" their DVD rental service and "go out on a high" with the last shipment taking place before the end of the year.

It's the end of an era for what has become a streaming giant

Netflix’s DVD-by-mail service is coming to an end.

The DVD service, which still delivers films and TV shows in the red-and-white envelopes that once served as Netflix's emblem, plans to mail its final discs on Sept. 29.