Netflix is fast becoming a giant behemoth in Internet Television, streaming movies, documentaries and originally produced series directly to consumers through internet. Netflix thrives on a subscription based model with price point comparatively cheaper to traditional modes of entertainment.
As per Netflix 2017’s Annual Report, Netflix had
- 117 million streaming memberships
- With subscriptions in 190 countries globally
- With subscribers enjoying more than 140 million hours of television through Netflix per day
With increasing internet penetration with higher bandwidth and speed, Netflix has leveraged the growth in internet connectivity to provide on-demand television series with the ability to pause, rewind and download movies on mobile enabled devices.
Netflix has disrupted the traditional movie industry by venturing into original feature film production streamed directly through its Netflix apps on televisions globally, slowly killing the need to travel to movie theaters to watch movies or renting DVD’s for doing the same.
One of the prime reasons for Netflix’s success has been to cater to viewers needs by investing in programming and series. Netflix is also catering for the needs of various geographical mix of viewers with more original content each day than ever before at a price point which makes it very alluring for ongoing subscription.
Netflix has been differentiating itself through increasing and varied content choices catering to different segments of the population and demographics. The companies focus on quality programming, the ease of use its applications and availability of content online or offline (through download) providing a 24*7 entertainment window, its move into original programming including nominations and award (Emmy, Golden Globe and Academy Awards) has been its key differentiators.
This is well supported by its investment in technology and futuristic technology architecture which has enhanced its brand.
Source: Netflix 2017 Annual Report