inet6num: 2404:aa00::/32 netname: WEBSATMEDIA descr: WEBSATMEDIA PTE LTD descr: Satellite Over IP country: SG org: ORG-WPL7-AP admin-c: GG398-AP tech-c: GG398-AP mnt-by: APNIC-HM mnt-lower: MAINT-SG-WEBSATMEDIA mnt-routes: MAINT-SG-WEBSATMEDIA mnt-irt: IRT-WEBSATMEDIA-SG status: ALLOCATED PORTABLE last-modified: 2017-10-24T13:02:11Z source: APNIC
IP address ranges, or netblocks, are groups of related IP addresses. They are usually represented as a base IP address, followed by a slash, and then a netmask which represents how many IP addresses are contained within the netblock. This format is known as CIDR. You'll also sometimes see netblocks given as a start ip address, and an end ip address, or an ip address range.
Traffic works its way around the internet based on the routing table, which contains a list of networks and their associated netblocks.