Netflix and Chill
DVD by mail market to Online Video Streaming service
When you think about searching online, you think Google. When you think about colored sticky notes, you think Post-it. And when you think about binge-watching series and movies you think of……right: Netflix. Netflixing has become synonymous to binge-watching.
Netflix is an OTT(Over-the-top) media service which offers subscription-based video-on-demand from a library of films and television series.It all began in April 1998, when Netflix started renting out DVD’s by mail. Only a year later Netflix changed its pay-for-use model into a subscription model. Nearly a decade later, Netflix changed their proposition to a streaming service, which changed the way millions of people spend their free time.
As of July 2021, Netflix has 209 million subscribers, including 72 million in the United States and Canada
The Rise Of Netflix and fall Of Blockbuster :
When Netflix launched in 1997, Blockbuster was the undisputed champion of the video rental industry.
Blockbuster initially succeeded because they did one core job better than anyone else: delivering entertainment to people’s homes.But as we all know, technologies change.Blockbuster’s innovation stagnated.
Instead of focusing on delivering incredible (and affordable) entertainment to their customers — something Netflix definitely has down — Blockbuster put more stock in the model (Brick and Mortar model) they were comfortable using.Blockbuster stick to its old business model and didn’t believe monthly subscription will be successful.
Blockbuster’s profit is sufficient to sustain their world stores but their profit also rely on customer hated late fees which Netflix didn’t charge their customers.
Blockbuster only thought of maximizing their return whereas Netflix innovated new business model (subscription model )which is more customer friendly and enjoyed by the customers .When blockbuster realized it , it was too late where Netflix was offering online video streaming service.Following are the main reasons for this rise :
- Ready to Adapt to new Business Model
- Customer Driven approach (More customer friendly services , no late fee process, people don’t have to go out for movies,at one point, people realized they went to Blockbuster stores not because they enjoyed the experience but just because it was the only choice for them to watch new movie releases.)
- Culture that values people over process (Corporate Culture is the Key to Being able to Innovate)
- On demand : being able to watch from anywhere , anytime
- Algorithm for recommendation model used by Netflix is better compared to other competitors (an algorithm that was 10.05 percent better than previous one used by Netflix)
Users :
Netflix is mostly for young audience crowd such as between the age group of teens and late 30’s.
My favourite features in Netflix:
Screen sharing :
Netflix lets you watch video on multiple devices at once, which is convenient for families that share a single Netflix account.Depending on the kind of Netflix plan you have, you can stream video on one device (Basic), two devices (Standard), or four devices (Premium) at a time
Content :
Netflix stands out when its come to series compared to other two platforms. It have variety of great number of series which we can binge watch a lot. When come to movies it’s almost similar to other platform might even less. Netflix originals is one of the best in class compared to other two platforms, most of the Netflix originals are great to watch and keep yourself into the screen.Almost every month, the OTT platform brings new content to keep its viewers engaged.
Quality :
There are two plans available: Rs 649 per month which lets users stream HD content on two screens and an Rs 799 per month plan, which allows users to access content on four screens at a maximum of Ultra HD or 4K resolution.
