Red Envelope Entertainment LLC (originally Netflix First) was a film production and distribution unit created by Netflix in 2006. The studio produced independent content for the company's DVD-by-mail service. The company produced and/or distributed over 100 films, before ultimately being closed in 2008. The firm cited the closure of the production division, as a result of pressure from partnered film studios, which were competing for rights.

In 2012, Netflix returned to producing original content under its own banner.