Netflix Industry
Autor: Fizz • October 4, 2018 • Case Study • 334 Words (2 Pages) • 430 Views
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Netflix Industry
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Netflix is the American multinational company considered as one of the world’s leading Internet Television network having more than 86 million subscribers from across the globe in 190 countries. The services of the company includes offering of original series, featured films, and documentaries on any internet connected screen. The company started working as a provider of streaming media and video on demand and DVDs through mail. However, it also entered the Television and Film production industry later. The success of the Netflix caused many new entrants in the industry (Netflix, 2017). Wal-Mart was one of the first ones who started providing online rental services but left the market after three years of working. However it is currently the owner of Vudu, which was acquired by it in 2010. One of the major competitors of the Netflix who gave it a very tough time is Blockbuster Video. Both companies have a history of price wars. Other than this, Amazon has also entered this industry by offering online video rental through Amazon Video, which now streams videos and movies on demand. Hulu Plus is another competition of Netflix which makes it important and vital for the survival of the Netflix to keep its existing customers happy and also to keep looking for the new ones or otherwise Hulu Plus will get them. The arrival of the Netflix in the online streaming and rental industry has drastically changed the landscape of the entertainment distribution industries. Over the last five years the cable industry has lost over 6.7 million subscribers, the television network viewing time decreased by three percent. All of this has definitely made Netflix a Wall Street favorite (NOCERA, 2016).
References:
Netflix. (2017). Netflix. Retrieved 2017, from Netflix: https://ir.netflix.com/
NOCERA, J. (2016, June). Can Netflix Survive in the New World it Created. Retrieved January 18, 2017, from New York Times: https://www.nytimes.com/2016/06/19/magazine/can-netflix-survive-in-the-new-world-it-created.html
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