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March 11, 2019
Stranger Things” and “To All the Boys I’ve Loved Before” not only all have a cult-like following but also are all Netflix original shows.
Over the past five years, Netflix’s popularity has skyrocketed and is now surpassing conventional TV. Netflix’s growth can be measured in its stock. Starting at the beginning of 2013, Netflix’s popularity and revenue began to grow gradually until December 2017, when the company’s growth passed $11 billion in revenue by the end of the fiscal year.
This can be compared to the stock of Dish, an orthodox TV streaming company, which has gradually decreased in earnings since 2013.
When asked about Netflix’s rising popularity contrary to conventional TV, entrepreneurship teacher Paul Chiment said, “Netflix is successful because it thinks like a big company, but operates like a small company.WhatImeanbythatisthat Netflix understands the very large market of entertainment in its many forms, and it is able to rapidly adapt to, and even predict, change. For example, it pivoted its DVD rental business model toward streaming very early in the game. In a classic example of “creative destruction,” Netflix destroyed the market position of Blockbuster.
“Now it is seeking to undo the TV and movie studio model by producing its own content, therefore challenging the status quo with“Netflix Originals.” I admire how the leadership team at Netflix is always proactive and not reactive, and it is us, the consumers, who benefit from their innovation.”
Netflix, a video streaming company, appeals to all audiences and is available on smart-phones, computers, and tablets, becoming a convenient way to stream favorite TV shows, contrary to ordinary TV, which is only available in one place. Although this is part of Netflix’s growth, it is not unique to the company.
Other video streaming companies such as HBO, Hulu, and Amazon Prime have the same on-demand aspect. However, what makes Net- flix so unique is its abundance of local companies who own TV shows which are only available on Netflix.
This factor has significantly helped Net- flix to grow in popularity.
With entertainment such as “Orange is the New Black,” Kissing Booth” and “Barbie Dreamhouse Adventures,” Netflix appeals to all ages. “ The Netflix’s original shows no only appeal to all ages, but also have original cable’s successful shows and movies. Most of Netflix’s original content entered mainstream media and is taking over film and TV dis- cussions.
Although Netflix has many benefits, there are also downsides. One being money, more precisely the cost of subscriptions, which can amount to monthly payments of up to $13.99 along with a cable TV bill.
Another is that Netflix’s expansive movie and TV library are so enticing that they can take up time from studies, family, and friends.
These reasons are why the average consumer might not want to subscribe to Netflix
