Startup Story of Netflix – Netflix, is the biggest platform of the world today. Netflix canoe safely said as the platform that has brought the major shift in the entertainment world from. TV to Netflix. Netflix is the one stop place to watch hundreds of TV shows, movies, documentaries, series, and even the short films.
It is the best platform today to watch the shows from around the world and have a good time. Netflix has started a very popular phrase that has gone viral worldwide and it is ‘Netflix and Chill’.
It means to watch shows on it, do binge watching, and chill. Netflix comes with different subscriptions starting from just Rs 199 per month. Netflix has got its popularity in the last 3 years in India and the whole world.
Startup Story of Netflix
Netflix was originally founded in August 1997. Marc Randolph and Reed Hastings are the two serial entrepreneurs who have started this amazing entertainment platform. Scotts Valley, California is the place where this platform was born.
But now, it has become the most popular and the most loved internet entertainment platform in the world. It just started off by being a website-based movie rental service.
Startup Story of Netflix – The platform was started as a result of a Blockbuster Late Fee.The platform still has some DVD subscribers. Reed Hastings was the one who came up with the idea of starting Netflix. He was shocked for a late fee for a movie rental at Blockbuster Video.
The platform launched its first rental service in 1998.The founders say that they wanted to create amazon.com or something else which means they wanted to create something as big as Amazon or something else that gets popular in the whole world. They started with the DVDs and entertainment platform section.
Netflix is a very thoughtful word. For the entertainment platform. Netflix is a combination of two words, Net that means internet and flix that is a collection of flicks or movies. So, it changes to movies that can be watched on the internet.
To what Netflix was started as, now it is a totally different company. Netflix is available in almost every country and it has made people and it has changed the way millions of consumers access video media.
Startup Story of Netflix
The target consumers of Netflix since 2007 has been the people with high speed Internet connection who are eager to watch the movies online. They started with a website and now they also have a mobile app that is most used by the people everywhere.
Netflix’s cost structure is cost-driven. Their biggest expenditure is paying for the rights to stream third-party content. Their business model is all about selling cheap streaming content to a mass market.
The main source of revenue for Netflix is the subscription fee paid by the people. It is the one of the most profitable media enterprises in the world right now. A platform that just started as a DVD rental service is now the world’s most popular online media platform with subscribers all around the globe.