Netflix is the frontrunner global streaming mammoth with 207.64 million paid subscribers worldwide (as of the first quarter of 2021). Since coming into being in 1997 as a rent-by-mail DVD service, this present streaming giant has changed industry dynamics, not to mention leading the trends.
Netflix has transformed how people access and consume content today, whether movies or TV series. So what are the reasons that it runs ahead in the streaming race in comparison to other platforms?
Every day we come across and participate in talks, discussions, sometimes arguments about shows and movies in popular trends. Missing on which is a forbidding FOMO. Interestingly, those often are from/on Netflix.
Though Amazon Prime boasts more titles, for Netflix, it is quality above quantity. Netflix has more titles in IMDb’s (apparently owned by Amazon) lists of the top 250 TV shows and movies than any other platform.
For quality content that airs (or was previously broadcasted) elsewhere, Netflix is the best platform to go online. It allows people to catch up on the shows they had missed when they first broadcasted, and even those that televised before they were born.
Netflix has become a socio-cultural phenomenon as people “Netflix and chill.” It has something to offer for everyone.
Netflix mostly premieres all the episodes of a show or season at once altogether, making it convenient for users to binge. It is going to do the same with Seinfeld as well, releasing all its 180 episodes this fall on October 1.
Skip intro feature, audio descriptions for visually impaired, subtitles, personalized watchlist, notifications based on interests are other valuable UX add-ons.
Netflix has revolutionized the way people consume content with its never-ending varied library. Another episode self-loads as one ends. Overnight binge marathons have become a guilty pleasure for many users. Netflix’s “tudum” as we begin the new season of our favorite show sends ASMR down our scalp.
People today don’t have to scroll through TV channels or randomized content for relaxing after a hectic day. Netflix recommendations always have them covered.
Netflix AI recommendations
The platform’s recommendation engine runs on algorithms driven by excellent machine learning. It is valued at a whopping $1 billion. With rising users and user data, it only keeps getting better.
Analyzing the user data to serve subscribers better makes Netflix stand out, as it is the best among its competitors. When you search for a film or show which happens to not be on the platform, the recommendations you receive as alternatives are irresistible to try.
Netflix jumped heights when it began producing original content with Lilyhammer and House of Cards in the last decade. Moreover, the original exclusive content of the platform is one of the main reasons that pull in subscribers. Earlier, people were allured towards the quality content on the streaming service, and now they also want the original content. It’s a double victory.
Creative freedom tempts the capacity of cinema makers to experiment with their art and make path-breaking shows. Formulaic shows are also produced often as they sell good.
The story, premise, and characters of the Netflix originals are either exclusively distinguished or highly relatable for the consumers. Not just this, they have even received Oscar nominations and competed against the best. Netflix originals won 7 Oscars at the 2021 Academy awards, doubling its all-time Oscars tally.
Netflix is riding strong on its vernacular content, expanding in the global market. Not just for the locals but for a global audience, it brings the best shows and movies to and from all over the world.
With rising competition, Netflix is pushing more local content into countries. Dominating market, it is also leading local content production in many countries, thus dispersing exponentially. In the second quarter of 2021, Netflix added 1.5 million net new subscribers globally while the number declined by 430,000 in the U.S./Canada market.
It has also helped local filmmakers to reach a global audience. Korean Dramas amassed massive popularity on the global streaming platform in the past few years and now are a beloved category to stream from.
Like Netflix’s local marketing strategies, many other reasons have made it a globally and locally competitive streaming giant.
“There is a revolution happening, and within two years I think that Wi-Fi and Netflix will be built into all the televisions,” said CEO Reed Hastings back in 2009 in an interview.