Netflix: A Bingeable Journey
A streaming network that ended up creating 8 out of the 10 most popular content series with 207.6 million subscribers and growing. Conclusively, Netflix has revolutionized the streaming industry.
Let’s binge together and ‘see’ how this became possible.
Because you watched: Netflix
(Ep 1) 1997 -Reed Hastings and Marc Randolph mailed themselves a DVD. This led to the founding of one of the first online DVD rental companies, Netflix.
Ep 2) 1998- Netflix.com was launched to assist people in choosing titles online that were subsequently mailed to them with prepaid return envelopes.
(Ep 3) 1999- For a small price, people in 1999 could rent as many titles as they wanted in a month with Netflix’s new subscription-based model.
(Ep 4) 2000 - Netflix began to use a personalized recommendation system based on viewer’s ratings of previous titles. All this while the company’s losses totalled $57 million and their offer to be bought for $50 million by Blockbuster was rejected.
Watch Now: Netflix
(Ep 5) 2002 - Netflix went public, initiating an IPO (Initial Public Offering) at $15.00 per share. Now, it’s one of the best-performing stocks of the past 20 years.
(Ep 6) 2007 - A huge shift was the “Watch Now” feature which allowed members to instantly stream television and movies on their PCs and Internet Explorer instead of having to wait for DVD deliveries.
(Ep 7) 2010 - Netflix went international as it began operating in Canada & the option to stream from mobile devices was introduced.
Continue Watching: Netflix
(Ep 8) 2012 - The first Netflix original, “Lilyhammer” was released, followed by ‘House of Cards’ which won 7 Primetime Emmy Awards.
(Ep 9) 2019- New rivals like Disney, AT&T, and Apple all launched their own alternatives resulting in higher competition. Netflix is still ahead of the curve, building up its original library; having spent $17.3 billion in 2020.
(Ep 10) 2021-The company plans to pay back its outstanding $15 billion debt with cash on hand and will be cash positive after this year.
Watch Next: Netflix?
In becoming the company we know and love today, Netflix has managed to replace the traditional cable television in millions of households and more.
Will Netflix remain the powerhouse in the streaming industry or will it be dethroned by newer stronger competitors?
To know what happens in the next season of “Netflix”, keep watching!
Sources: Netflix, Britannica, Statista, Forbes
~ Navyaa Mittal