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Founded in 1970, Philadelphia-based Urban Outfitters is a multibrand apparel and home goods retailer that operates approximately 800 stores and e-commerce platforms in the US, which accounts for about 87% of sales, as well as in other regions. Its retail nameplates are Urban Outfitters (22% of fiscal 2026 sales), Free People/Movement (26%), and Anthropologie (42%). Retail accounted for 86% of fiscal 2026 revenue, but Urban Outfitters also sells products through a wholesale operation, owns some restaurants, and operates a fast-growing clothing rental and resale business called Nuuly (9% of sales). Urban Outfitters primarily appeals to young adults and offers products across apparel (66% of sales), home goods (16% of sales), accessories (13% of sales), and more.

Netflix's relatively simple business model involves only one business, its streaming service. It has the biggest television entertainment subscriber base in both the United States and the collective international market, with more than 325 million subscribers globally. Netflix has exposure to nearly the entire global population outside of China. The firm has traditionally avoided a regular slate of live programming or sports content, instead focusing on on-demand access to episodic television, movies, and documentaries. The firm introduced ad-supported subscription plans in 2022, giving the firm exposure to the advertising market in addition to the subscription fees that have historically accounted for nearly all its revenue.