Netflix has come a long way since its inception in 1999, when it debuted as a subscription based service where customers could order their favorite movies through the mail. However, the company did not really revolutionize the entertainment industry until it rolled out its new streaming services. For less than $10.00 per month, customers would gain access to thousands of titles, along with the ability to stream them in their homes at a moments notice.
However, more than a decade later this all seems like old news. Netflix is everywhere, as it begins to take over the television industry, leading the cord cutting movement that has swept the world off its feet. It has even begun to integrate vertically by producing its own content. It is because of this development that Netflix has continued to expand, long after many thought it had reached its potential. Their journey into content generation has paid off. At the 73rd Golden Globe Awards this past weekend, Netflix Original Shows received eight total nominations, topping all other major networks.
Netflix has progressed further than anyone could have imagined. Just when it seems like the company cannot grow any further it seems to surprise everyone. In my opinion it is a safe bet that they will continue this torrid pace for years to come.
Netflix is one of those companies that is able to exploit the fact that people are becoming more reliant on the internet to bring them their shows or movies. They benefit from the modern day person becoming more lazy as everything is becoming available without leaving the couch. I think netflix has done a great job keeping up to date on all of their offers. they are changing with the time which keeps them current and not something that is forgotten in a few years. I feel as though netflix will continue to grow as they have understood and perfected their area of business.
Netflix really is a company that really wasn’t utilized when it first came out. I remember when my dad used to buy DVD’s from Netflix and thinking this is cool but Blockbuster is easier since it was so close. Then when Netflix came an online thing, I still really wasn’t convinced this was a good company. After long consideration, I made the switch to Netflix and I can easily say watching movies hasn’t been the same since. I watch whatever is available whenever I want. And now with Netflix creating TV series and movies, they are becoming a huge company. Shows like Narcos and Orange is the New Black are taking over our computers, and now with Netflix also making movies with top actors like Adam Sandler, Netflix isn’t messing around. I’m curious what Netflix will be up to next.
Netflix is definitely a disruptive innovation that completely wiped out tradition stores like Blockbuster and re-defined the movie renting industry in a very very short time. I remember 6-7 years ago when I was high school, go to blockbuster and pick up the latest movie is one thing I enjoyed doing a lot, but Netflix appeared and made everyone to switch their entertainment behavior so much because they find out online streaming is so much more convenience, and that caused all the blockbusters in my region closed just two years after I first heard Netflix. One of the speaker during alumni day said that 70%-80% of Penn State Bandwidth are used on online screaming, and a big portion of it are Netflix, which proves how dominate they are in streaming business. Today your post educated me even more and gives me more facts about the business model of today’s Netflix, their success on film/tv show production proves that Netflix is a company that never stopped innovation, and definitely they will bring us new ways and better ways to enjoy movies in the future.
I think it will be most interesting to see how Hulu and Amazon work to compete with Netflix in the next few years. Not only have Netflix’s original series been so successful in the past years, but also Netflix makes up 36% of the market share for streaming services, while Hulu and Amazon together only make up 19.6% (according to Investopedia). Also, I am excited to see how Verizon, Comcast, and Direct TV respond to Netflix after these nominations. I think that every telecommunications industry has to keep a sharp eye on Netflix, since they have been leaders in innovation since 1999. Great article!
Netflix is a classic case of disruptive innovation. Netflix is revolutionizing the business of television just like how spotify and pandora revolutionized the music industry. Netflix is leading a path for television that other companies like HBO and amazon are following in. Most of my friends do not even watch cable television anymore they will either watch Netflix or some other form of a stream because almost anything can be watched online now and the main reason behind it is because what Netflix has done.
I absolutely love Netflix. I seriously do not know what I would do without it. Well actually, I would probably procrastinate doing something productive a lot less, but that is okay because Netflix is awesome. Like you said, they continue to surprise everyone. Netflix really has changed the movie, and even the television world, for good. I still remember getting the movies in the mail in those red envelopes and getting super excited every time. Now, I just take the whole streaming service for granted and really do abuse it (haha).
The next question is, what will Netflix do next? They have already made tremendous leaps in the business and have advanced everyone. They have put video stores out of service. Are movie theaters next? I’m not saying it would happen right away, but it is a very strong possibility. All I know is that I am extremely excited to see where else Netflix will grow and what they will do. Thank you Netflix for being so amazing.
It will be interesting to see how Netflix continues to implement content generation into its identity. It’s already seen huge success with new content as well as picking up fan favorite shows that have been cut out of cable T.V. (arrested development) It will also be interesting to see how this newer means of distribution will effect the format of T.V. shows. Currently, many netflix shows still follow the traditional half hour or hour episode format for shows. This occurs with entire seasons being released at once for optimal binge watching. This does create an interesting dynamic where shows occupy the spotlight for very brief, but bright, moments. It will be interesting to see how this distribution method changes the pacing, production, and writing of their shows, especially with the binge- watching mindset so securely in place among young adults.
I remember thinking that Netflix was so dumb when we had Blockbuster. That was probably 10 years ago and things have changed so much since then. Netflix made the transition from only hard copy dvd rental to mainly digital streaming and the impact has been huge for Netflix and consumers. As mentioned in the post Netflix is starting to create its own shows. Most of which have achieved very high rating and reviews. House of Cards for example is one of Netflix’s most well known self-produced show and it has received many awards. It’s crazy that most of this progress has happened in only five years and it will be interesting to see what else Netflix will try to do to continue their success in the future.