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Since its foundation in 1997 Netflix has been a major success story. For the year 2020 the company expected to achieve revenues of around 25 billion dollars and 200 million customers in 190 countries. This exercise provides information on how Netflix's business models has developed over the years. The objective is to analyze the digital transformation of the streaming model and its sustainability going forward, as it faces competitors like Disney or Amazon, and needs to finance its international expansion as well as it ambitious production of content. The information provided allows to study especially the underlying operations model on which Netflix has built its success.