Business Success Secrets: How did Netflix become so big?
Netflix is seeing a surge in viewers every single year. Studies show that 131.7 million subscribers are now signed up across the world and they are showing no signs of slowing down any time soon. Even though a lot of other companies are trying to follow suit, it’s safe to say that Netflix is the leader in a lot of different regions. If you want to make sure that your company is growing as fast as possible then it may help to look at what factors influenced the success of Netflix.
First-Come, First Streamed
When Netflix began in the year 1997, they distributed a lot of their content by snail mail. They sent out DVDs in the post and they have stated that the backlog catalogue helped them to achieve success here. They approached media conglomerates and they told them that they wanted to buy the licenses for a lot of older TV shows or movies. This meant that people had the chance to purchase titles that they could not find at their local video store. Studios could also make some extra money from these kinds of sales too, so it worked in everyone’s favour.
The fact that Netflix was buying movies at a fraction of the cost is just one of the many reasons why they experienced success. You also need to look at the fact that they began their streaming service in 2007. At this time, LCD TVs were surging in sales and people were able to stream media content directly to their screen. On top of this, you had the recession. People, and most notably those with families, had to cut down on their expenditure. At the end of the day, it was cheaper to watch something on a site such as Netflix when compared to going out to the movies. The casino industry was very similar. Sites such as casino.netbet.co.uk, as an example of a prime mover in this genre, started to try and meet the demand of gamers wanting to access more and more content from home. When you look at moments like this, it’s no wonder that increasing numbers of entertainment options are now going digital.
When the year 2013 came about, the people who worked at Netflix realised that it was time to push things to that next level. They decided to make their very first original show, which was House of Cards. It had a stunning cast, and it really was a positive movement for the entertainment industry. They also released the entire season at once because Netflix knew that they could make the episodes available at the same time. It also meant that their viewers were able to watch the entire show and then cancel their subscription if they couldn’t afford to keep it. This made it better for the people who were paying for the service and it also made it better for the people who were working behind the scenes. They could renew the show for a second season much sooner because they could find out if it was successful or not after just a few days.