Netflix shutters DVD rental business after 25 years

Netflix Inc.
NFLX,
+0.29%
is calling it quits on DVD rental sales after 25 years. The streaming giant, whose DVD business shrank as it accelerated and exploded into streaming, will ship its last red DVD envelopes on Sept. 29, the company said in a statement. “Those iconic red envelopes changed the way people watched shows and movies at home — and they paved the way for the shift to streaming,” Netflix said. Netflix, which reports quarterly results on Tuesday, is locked in a fevered market with rivals Walt Disney Co.
DIS,
+0.63%,
Apple Inc.
AAPL,
+0.75%,
and others.