Netflix has been a very impressive source of entertainment. Including each type of shows and movies for various category of subscribers.
An attractive and original content creator which knows what its subscribers want before they know about it.
Tv series to documentaries and also movies it has turned tables with its content-creating capacity.
How did it start?
A postal DVD service founded in 1997 and launched in 1998. With a motive to provide on-demand entertainment to people of their choice. Started with 30 employees and 925 titles available.
It had $2.5 million as a startup cash.
The monthly subscription plan was started in 1999.
Later in 2000, the single-rental model was dropped.
As the company has built its reputation on the business model of flat-fee unlimited rentals without due dates, late fees, shipping and handling fees, or per title rental fees.
But when they started with online streaming content in 2007. It was becoming more popular among people.
The network speed was an issue at that time which also made their DVDs business going parallel to it.
“One of the key things about Netflix was that it had a recommendation system known as cine match, which not only got viewers to remain attached to the service, by creating a switching cost, but it also brought out those movies which were underrated so that customers could view those movies too from their recommendations. This was an attribute that not only benefited Netflix but also benefited its viewers and those studios which were minor compared to others.”
With its increasing global subscribers and high-quality content, it has managed to be the award-winning entertainment company.
Signing with the most effective authors and tying up with good companies it is growing its reach worldwide.
The game of content we can call it. Especially those which gets your attention and beats your sleep. There are many competitors in the entertainment industry.
But the best competition, for now, is Amazon prime video the most interesting among all. Offers the same type of subscription plans, fresh content by involving lots of new talents.
This video streaming service is much popular. It provides its shows next day viewing. But Netflix does not have this feature. It does not stream any show, airing so soon on television.
Hulu was having close to 32 million users as of April 2017. With its revenue of 1 billion dollars. This joint venture can be a great competition.
Walmart came with the next big competitor for Netflix.
Vudu is a well-known name in the smart tv market. Vudu its own online streaming platform is competing with iTunes and amazon prime.
With a very limited shareable and free content it has not yet been a trouble for Netflix.
But as of now, Vudu is all set to use its relationships with large television and entertainment industries.
Amazon prime video
It is and can be a very tough one in the entertainment world.
There has been a tremendous growth in its performance. It is a direct competition to Netflix.
Amazon prime video offers a very huge selection compared to Netflix. It has 17000 titles and Netflix has 10000 titles. Which accordingly is very less.
With very cheap rates it is increasing its value to customers. One company which must not be taken for granted is amazon prime video. As the name suggests A to Z it fulfills the same.
There are many more competitions in the online streaming world.
As most of the channels have there owned streaming platform, YouTube plays a very important part. The quality would only increase if companies have strong competitors.
Although Netflix had a very long journey.
Which is also a plus point to understand customers perception. it is at the top of the online streaming platform. Working on its strategy like a pro to remain one.
The thought of being there own customer and thinking in the same manner. While applying those strategies has led them to no. 1 position.