Netflix is a subscription-based streaming platform launched in 1997. With headquarters in Los Gatos, California, It is a world-recognized company. So far, Netflix has gained over 221 million subscribers. It is a service that offers movies and TV series on the through deals with other production companies to stream their content.
Netflix is an amalgamation of high-quality movies and shows with a user-friendly interface. The company has a business model that supports streaming and downloading TV shows and movies. It is retrievable on web browsers and mobiles. The Netflix application can be installed on mobile phones, smart TVs, tablets, and video game consoles. It owns a production company intended create Netflix-owned content termed as ‘Netflix Originals’. It is blend of documentaries, horror, comedy, Sci-Fi, crime and action TV series and shows. The company offers a Kids profile to keep the kids entertained.
Netflix Progression
It started as an online subscription platform through which subscribers could chose movies and TV shows and the DVDs of desired shows would be delivered to them through mail. Soon this business model and Netflix transformed into fixed-rate unlimited DVD rental service. In 2006, It announced a reward of $100,000,000 to create an algorithm that could beat the existing Netflix video recommendations algorithm.
In 2007, It shifted from DVDs to streaming. However, initially only 10,000 movies and shows could be streamed. Soon Netflix hired, a DVR specialist, Anthony Wood, to build a system through Netflix content could be streamed directly on Televisions. In 2010, It signed deals with Warner Bros., Universal Productions and 20th Century fox allowing Netflix to stream their content. It continued to stream content from several production companies and gained popularity.
In 2011, a Netflix personalized button was introduced in compatible devices. By 2012, It had expanded in Europe and flourished in the European Market.
Netflix Original
In 2013, the first ever Netflix original supernatural series, Hemlock Grove, was released. Soon after the introduction of Netflix Original series, Netflix profiles were introduced allowing five subscriber profiles.
Corporate Sector
Netflix hires motivated and hardworking employees consistently working to improve the Netflix Business Model. In exchange of certain allowances, the employees are expected to exhibit high-performance. By granting the decision rights, It gains interests of employees. Employees with exceptional performance get a severance package including pay and benefits. The company has granted paid leaves for Vacation to employees.
Philanthropic Work
In 2021, It announced a goal to reach zero greenhouse gas by 2021 to preserve the environment. Netflix donates $100 million to suppressed communities as a gesture of goodwill.
The company donates $120 million to several colleges and universities to fund their scholarships.
Worth
The total revenue generated by the company up till now is $29.7 billion with net income of $5.1 billion. Total assets and equity of the company is $44.5 billion and $15 billion respectively.
Subscription Method
To subscribe to Netflix services, users have to sign into www.netflix.com and create an account. Once an account is created, users log in to the account, provide their personal and credit card details. It rewards the users with one month free trial in some countries them to have an insight into the streaming experience provided by Netflix.
Subscription Cost
Netflix Subscription Packages are following:
- Basic plan costs $9.99 per month
- Standard Plan costs $15.49 per month
- Premium Plan costs $19.99 per month
Netflix Competitors
Over years, It has received great Competition from rivals in which Disney plus is on top. Other Competitors are Hulu, YouTube, HBO and Amazon Prime.
Conclusion
Netflix aims at providing high-quality original series and has lived up to the expectations of viewers. It offers the views to relax and relieves stress. Netflix unlimited content and ad-free streaming piques the interest of individuals and assists those who are going through hard times. Despite challenges, the company continues to be a source of entertainment. So far, It has won 44 Emmys awards. Netflix strong content recommendation service is commendable and loved by everyone. It mostly streams only complete episodes of the show. The company’s appealing kids profile with a kids-friendly and reliable interface is appreciated by subscribers.
Frequently Asked Questions:
- What is Netflix Party?
It is an extension that allows friends to watch movies and shows together. All they have to do is download the Netflix party extension and save it in their browsers, log in to Netflix, create a party by opening the desired show and click on the Netflix party extension, and then finally copy the link to share with friends.
- Where to report if I have an issue using my Netflix account?
To report an issue, users have to log in to their accounts and open the help center tab. The help center has option of Live and call to address the issues of users.
