Will anyone believe that the idea of Netflix was born due to some itsy bitsy fine amount? No one will accept this in the first place.
But, actually, Netflix’s founder was fined a small amount for renting a movie from Blockbuster and returning it late. This made him invent Netflix to provide a movie rental service. Users ordered the movies they wanted on Netflix and received DVDs by post in earlier days.
Now, eventually, it has turned into a giant streaming service platform where users can watch a range of videos of different genres, languages, etc
How did Netflix become successful?
There are some key strategies of Netflix that you should know that really made it successful and stand out from its competitors
Utmost convenience in watching videos: Users on Netflix enjoy watching their preferred movies with convenience and with a personalized experience
Staying current with Technological progress: Netflix eventually moved from mailing the content through DVDs to streaming TV shows and movies of good quality.
It also began with its unique, original production content which became a hit worldwide
Range of videos: Users can watch TV series, movies, documentaries, and other types of videos on Netflix hassle-free
Ad-free experience: We really like watching shows and videos without any interrupting ads, right? This ad-free content is a very important reason for the popularity of Netflix
Customer-created preview videos: Preview videos play while scrolling through a title card. Users can also watch the shows offline with the ‘Download and go’ option. This feature enriches the experience of users on the platform
Netflix recommendation engine: Netflix effectively uses Machine learning and knows what and when users watch on the platform every day and how many programs or episodes are watched by them.
The platform will thereby automate the decisions as per the user activities. This system of Netflix will greatly save time for us in searching our most preferred TV shows and movies
Game plan for original content: As per the source, Netflix planned to spend 85% of its resource on original content in the year 2019. This investment is obviously higher than its competitors such as Hulu, Amazon, etc. This is one of the reasons why Netflix tops the customer satisfaction surveys.
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