Netflix is sending its DVD-by-mail business to the Blockbuster graveyard

Netflix said Tuesday afternoon that the company will ship its last red DVD envelopes on Sept. 29, after 25 years.

Netflix NFLX, +0.29% executives announced Tuesday afternoon that the company will ship its last red DVD envelopes on Sept. 29, after 25 years. The business has dwindled in the past decade from more than $900 million in revenue in 2013 to less than $150 million last year.

Also see: Netflix stock falls after subscriber growth, earnings forecast miss. But it’s bouncing back on ad plans, shared-password crackdown in U.S. Netflix offered a different approach, allowing consumers to have a certain number of DVDs mailed to their home and return them at their leisure, which eventually led to the demise of Blockbuster. Eventually, the company began focusing on streaming media directly to consumers, and first offered that service for free to DVD subscribers.

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