What is Netflix?
- Netflix is the world's leading internet television network with over 69 million members across 50 countries.
- Founded by Mark Rudolph and Reed Hastings in 1997 in California, it was started as a mail-order DVD rental service.
- It provides on-demand video streaming as well as DVD rentals.
- Presently it provides its users more than 100,000 titles, including its award-winning original productions
Netflix provides monthly subscriptions, recommendations
- Netflix introduced a monthly subscription model called 'Marquee'- a single monthly rate.
- The 'Marquee' rate was soon modified to offer unlimited rentals.
- Later, it incorporated a feature called 'CineMatch' that gave personalized movie recommendations, based on ratings of users with similar viewing profiles.
- As its DVD distribution grew to 1,00,000, Netflix phased out single DVD rentals.
Netflix's growing user base
In April 2003, Netflix subscribers crossed the one million mark with access to more than 14,500 DVDs. By 2015, the number of subscribers crossed 70 million.
Netflix launches video streaming on web
- Netflix announced video streaming services, that would allow users to watch movies as well as series in real time on the web.
- The firm began offering streaming services on Xbox 360, Blu-Ray disc players, PS3 and other Internet devices.
- It partnered with Apple to offer services on i-Pad and i-Phone.
- It also announced plans to offer video games on its platform.
DVD-streaming separation backfires
- Netflix drew flak for a 60% price hike for users wanting both DVD and streaming and had to switch back to its original pricing.
- In September 2011, Netflix announced splitting DVD rentals and video streaming into two separate companies.
- Users, who then had to pay two different companies and maintain two separate accounts, protested and Netflix had to scrap the plan too.
Netflix originals win Emmys
- Netflix premiered its first original series ' House of Cards' starring David Fincher and Kevin Spacey, which received glowing reviews.
- It was the first web-only TV series to win an Emmy Award.
- Nextflix's most watched series 'Orange is the New Black' premiered in 2013 and went on to bag 4 Emmy Awards.
- The video streaming service released its first feature film in 2015.
Netflix's international expansion
- Netflix began its first global expansion when it entered Canada in 2010.
- It soon launched an aggressive expansion drive, starting services in the Caribbean and Latin America and later, in Europe and Australia.
- In 2015, Netflix entered Asia when it launched in Japan.
- Industry experts stated the firm is looking to establish its presence in 200 countries by the end of 2016.
Netflix to debut in India
- Netflix, the popular video-streaming service, is set to launch in India as part of its global expansion, according to industry executives.
- Its entry would coincide with 4G hitting the Indian market in a big way, with about 1 in 2 phones sold in 2016 to be 4G compatible.
- Cheap, pirated content in the Indian market would pose a challenge to the global streaming giant.
Netflix users grow worldwide
In the second quarter of 2015, Netflix reported adding 2.4 million international users and 900,000 users in US.
India gets to 'Netflix and chill' now!
- Netflix Inc. launched its India operations, rolling out plans starting from ₹500 ($7.50) per month, as the video streaming company rushes ahead with its international expansion strategy.
- Shares of the company surged 9.3% to close at $117.68 after this announcement.
- The business also expanded to almost 130 countries more countries, expanding to almost the entire globe with the exception of China.