Updated: Sep 23, 2020
Written by: Gurpreet Singh
Netflix is the world’s leading streaming entertainment service with over 167 million paid memberships in over 190 countries enjoying TV series, documentaries and feature films across a wide variety of genres and languages. Members can watch as much as they want, anytime, anywhere, on any internet-connected screen. Members can play, pause and resume watching, all without commercials or commitments (Netflix, 2020).
According to their website, (Netflix.com, 2020) Netflix does not have a common mission statement. “A vision, a promise, and nine values” these together make up an idea that provides insights into Netflix’s mission, which is becoming the best global entertainment distribution service, licensing entertainment content around the world, creating markets that are accessible to filmmakers, and helping content creators around the world to find a global audience are all part of Netflix’s mission, which basically is the same thing as their mission statement.
Netflix has given us many great original movies and tv shows, some of the great hits include ‘To All the Boys I’ve Loved Before’, ‘Kissing Booth’, ‘Elite’, ‘Money Heist’, and many more. As well as original movies, Netflix also has a variety of Hollywood’s great hits and tv shows and depending on the country you are in you can change the language and as well as different content.
To get started with Netflix, people have to go to their website on their laptops or install the app on their mobile phones and tablets and choose the plan that suits them the best from different budgets. They provide a free month trial to give their audience a chance to get to know the site and to decide whether they are willing to pay for it. A free month trial also expands their impact on the society reaching new audiences.
The Netflix Experience
The complete Netflix experience means sitting on the couch for several hours, feet propped up, drinks and snacks on the side, binge watching favourite shows and movies. Some may also refer to it as ‘Netflix and chill’ which has become a pop culture reference which one can easily look up. All of this makes up for the Netflix experience. Even though it sounds like a negative aspect, most people enjoy this time, whether they have free time or not, as Netflix captivates their audience to binge watch.
Netflix, as touched up earlier in the introduction, has produced and realised countless series and movies around the world, and other than the great hits mentioned above, there is also Netflix’s most influential series that are both praised and criticized. These can include 13 Reasons Why and Stranger Things. Netflix influences millions of its subscribers by giving them the chance to watch exclusive tv shows and movies, without any advertisement, which helped a lot of millennials suffering from depression to gain a bit of self-esteem and self-confidence.
As figures show, over 30 million Netflix accounts already existed in 2014, which doubled and tripled at the end of 2018; ad has been growing ever since. As well as being successfully engaging with their audience Netflix is also one of the first pay-tv services that can be watched on mobile devices and tablets.
The Netflix Strategy
After reviewing many websites and journals, as well as Netflix’s official website, it can be determined that their biggest strength is technology. This is because technology is the most important factor that thrives in the market, especially in the online streaming industry. Netflix has used this factor to their advantage to help them lower operational costs as well as reach a wider audience. To keep themselves above their competition,
Netflix uses innovation in their technology, such as content quality and differentiation in its products to stand out. They can successfully keep thriving in the market as long as their innovation strategy is being executed properly with high quality content and great performance delivery.
According to Netflix’s CEO, Reed Hastings, “Over the coming decades and across the world, Internet TV will replace linear TV. Apps will replace channels, remote controls will disappear, and screens will proliferate. As Internet TV grows from millions to billions, Netflix, HBO, and ESPN are going to lead the way” (Hastings, 2013).
Pros and Cons of Netflix
It’s easy and simple to use – this is one of the biggest and most obvious advantages for Netflix as it’s one of the most appealing thing to their audience. This is because they don’t have to set up anything, it’s easy to login and accessible from any device.
No commercials – Netflix is commercial free, even for people using a free trail. This is also one of their biggest pros as there’s nothing more satisfying than watching your favourite movie or tv show without being interrupted by advertisements.
Original program – as well as having a great selection of movies and tv shows, Netflix also has a lot of original tv shows and movies that have been captivating audiences worldwide.
Download content – Netflix has an option where their audience can download their favourite tv shows and movies and watch them later without having to use internet connection. This is a great option for people who travel a lot and don’t have access to Wi-Fi. They can download something beforehand and watch it on their journey to pass time and catch-up on their favourite tv shows.
Not all new content is available right away – this is a disadvantage as people may want to catch up on their favourite tv show which will not be available on Netflix for a few months or even years. An example of this is American Horror Story, the new season is only available after another season comes out. Therefore, the audience will have to wait a year to watch it on Netflix, unless they can watch it on the internet somehow.
Outdated library – Netflix tries their best to add new things as often as they can, however most of the times it takes a long time, which is a disadvantage as it makes the other things outdated and people have seen it already and have nothing new to watch. This is a regular complaint they get as may users are dissatisfied because of this. Compared to their competitors, such as Amazon, Netflix does not update their library as often as they should. This could be due to the long legal processes that it takes between executives.
This report has discussed the Netflix experience and how their most acclaimed tv series have changed people’s lives, and also how it helped them gain self-esteem and self-confidence. Furthermore, it can be seen how Netflix use their strategy to reach a wider audience as well as stay ahead of their competitors. It also shows how innovation and technology is what an organisation like Netflix needs to dominate the online streaming market.
Moreover, the report analysed the pros and cons of Netflix. Thus, it is made quite obvious that there are more advantages than disadvantages, which means there is still room for improvements to make sure they don’t lose their audience to their competitors.
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Netflix Media Centre. 2020. Homepage. [online] Available at: <https://media.netflix.com/> [Accessed 9 April 2020].
Netflix.com. 2020. Netflix United Kingdom – Watch TV Programmes Online, Watch Films Online. [online] Available at: <https://www.netflix.com/> [Accessed 9 April 2020].