Why is Netflix unbeatable?
I’m still searching for what to watch on my thirty-minute lunch break.
This American subscription TV has made millions in business. And all thanks to Covid-19. What makes Netflix this powerful? Is it the shows? Or is it the types of content they are showing the audience? Or is it that they change the language preference from region to region?
I think it is a mixture of all. It was in 2017 that I was introduced to Netflix by social media. At this time the YouTubers were a huge hit in India. People like Mostlysane, JordIndians, and stand-up comedians like Kenny Sebastian, Kanna Gill, Abish Mathew, Biswa Kalyan Rath, and many more were given a stage or either sponsored by Netflix to promote them. Some of these people have worked with Netflix for their own shows as well.
And this is just an example that I found in India. Netflix however, tried doing this experiment with every region. They Looked into every country raising stars on Youtube and Instagram and asking them to work for them or either sponsored them for a few videos and posts. So let's divide this into how they did it, what worked for them, and what is in the future?
- How did they do it? According to Netflix’s own website, Netflix was founded in 1997 by Hastings and Randolph as a way to offer movie rentals over the internet. This eventually led to Netflix.com in 1998, which focused on DVD rentals and sales. The next year the company added a subscription service, allowing the customer unlimited DVD rentals at a monthly rate. In 2007 Netflix began offering subscribers the option to stream some of its movies and television shows directly to their homes through the Internet. For most subscription plans, the streaming service was unlimited.
- What worked for them? The first show as a subscriber I saw was Narcos. As you all know by now that I love to watch any true story. Narcos was one of my favorite stories that I have watched to date. Also shows like Stranger things, 13 reasons why, House of cards, Designated survivor, and many more shows were under Netflix production. Note, these shows were just between 2015 to 2017. Later came shows like squid game and Money Heist during the pre-covid, covid and post- covid, which not only made people go gaga over Netflix but it doubled the profit and viewership. So it was not just these shows, Netflix also caught on to people in regional addiction have, for example during the covid lockdown people were bored of working from home from all over the world. and people were looking for new content. In India, the Korean culture was in the boom. People were watching Korean shows online. Netflix saw the opportunity to work on this and contacted a lot of these Korean shows which were only available in Korea and made them available for people all over the world. My mother and sister have watched so many of these shows, sometimes even on repeat. Maybe this was a coincidence or say luck that covid worked for Netflix. But I would also say that they did their home worked well. They worked on trending shows or languages in each country they were launching, this not only helped them to connect to the right audience but it also widened the target circle.
- What is in the future? Meanwhile, when Netflix was growing, platforms like Amazon, Disney, HBO, and other big-name also thought this could get to them and they started the “Bring the old school” trend. So this means looking at the upcoming regional movies which were trending depending on the region, they signed up a contract with them to release the movie with them after a few days it did well in the theaters. Of course, there were regions where some of the shows were impossible to get even for Netflix. For example, Big bang theory and Friends are some of the biggest late 90s and early 2000’s series that everyone grew up watching. Those are my two favorite shows too. Unfortunately in Canada, these shows are not given the rights in Netflix as the streaming channel such as ‘Cave’ has them. This does not stop them to bring newer shows like Inventing Anna, Vikings: Valhalla, A Business Proposal, and many more. Some of these shows are directly under the Netflix products and some are the third-party products that Netflix is buying the rights for. The strategy they are using is mind-blowing and they are bringing old movies and series onto the platform also at the same time nothing is stopping them to produce new shows. They have also introduced so many plans according to the region which is making more people subscribe. They can be watched on the phone, tab, laptop, or even TV. Also includes smart download options and tells you what are the kind of series which is coming up next. Just when you think we have a new feature, weeks later they come with more new updates. The constant improvement is just getting them more customers.
I would like to conclude by saying that, any business that would like to make a profit should look at growth and expansion. Netflix is one such example from the entertainment industry that is just looking forward to a better future.