Netflix Inc. has ended the DVD-by mail business that made it famous and brought down Blockbuster Video.

Netflix , NFLX +0.29% executives revealed Tuesday afternoon that after 25 years the company would ship its final red DVD envelopes. In the last decade, revenue has dropped from $900 million to $150 million.

In , Ted Sarandos co-Chief executive said “Netflix DVD – The Final Season”.

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Netflix was launched in the early 1990s as a DVD by mail service, when people still relied on discs and other physical media to watch movies and television at home. Blockbuster dominated the DVD market at that time, which was based on brick-and mortar stores renting movies for a couple of days and charging late fees if not returned.

Netflix took a different approach by allowing customers to receive a set number of DVDs at home, and then return them whenever they wanted. This eventually led to Blockbuster’s demise. The company eventually began to focus on streaming media directly from consumers and offered this service at first for free to DVD subscriptions.

Reed Hastings, co-founder and former chief executive of Netflix who announced his resignation three months ago, decided to pivot away from the DVD business in order to focus on streaming. This wasn’t a simple transition. He announced in 2011 that Netflix would split the DVD and streaming business, effectively doubling the price of the monthly subscription for those who wanted both. It was one of the worst decisions in Netflix’s history.

Although the process wasn’t easy, remember Qwikster. Hastings’ vision of streaming services was successful, and Netflix collected roughly $31.5 billion last year in streaming subscription revenues, while the DVD business brought in $146 million. Netflix has been followed by some of the biggest names of entertainment and technology, including Walt Disney Inc., DIS, +0.63% Apple Inc., AAPL +0.75% Warner Bros. Discovery WBD, HBO and others.

Sarandos said in his announcement on Tuesday that “those iconic red envelopes” changed the way viewers watched TV shows and movies. They also paved the path for streaming.

Netflix has also performed well. The S&P 500 SPX + 0.9% index has increased by 167% in the last decade.