Netflix

Netflix is a household name when it comes to online streaming services. Since its launch in 1997, it has revolutionized the entertainment industry. Initially, the service provided DVD rental-by-mail service, before transitioning to streaming in 2007. With over 208 million subscribers, Netflix’s influence is felt on a global scale. The platform is more than just a streaming service; it is a content creator, distributor, and an industry disruptor.

The Evolution of Netflix

From a humble DVD rental-by-mail service to a world-beating streaming platform, Netflix’s journey is nothing short of remarkable. The company was founded in 1997 by Reed Hastings and Marc Randolph in California, USA. Initially, Netflix provided a subscription-based DVD rental-by-mail system, essentially a digital video store where members could rent DVDs billed monthly. However, the company responded to technological advancements, leading to video streaming becoming the major method of delivery of Netflix's services.

When streaming music and movie service began gaining ground, Netflix switched to online streaming in 2007. Today, the platform offers various subscription packages with the cheapest plan offering access to 720p content on one screen and the top-tier plan offering 4k streaming on up to four screens simultaneously.

Netflix Originals

The company revolutionized the way television is produced and distributed. The rise of the streaming giant has challenged many preconceptions about what modern television is supposed to look like. Streaming services like Netflix have given the creative control back to the creators of television, empowering them to produce shows that are not bound by advertising or scheduling restrictions. In this sense, it is fair to say that Netflix did not just create a new distribution model, the company created a new form of television - often referred to as the 'golden' age of television.

With its financial resources, Netflix has established several partnerships with big players in the industry. The company has also engaged itself in the production of original content. Netflix's strategy of having original content has proven beneficial to the company's financial growth, with in-house shows like Narcos, House of Cards, Stranger Things, Money Heist, and The Crown quickly becoming global hits. The shows are wildly popular, receive high critical ratings, and generate humongous fan bases, and have entwined themselves in popular culture.

The Future of Netflix

Despite the dominance of the streaming platform, Netflix faces a daunting task, keeping up with competitors such as Disney+, HBO Max, Amazon Prime Video, and Apple TV+. Netflix is aware of the competitive market and is spending extensive resources on original content. The company is also trying to attract a wider range of subscribers by investing in foreign language content.

Netflix is also trying to embrace technology fully. The company is taking inspiration from interactive video games and is exploring the use of interactive movies to provide a unique and immersive experience. Black Mirror's "Bandersnatch” was the company's first attempt at interactive storytelling, becoming a global hit. It allows the audience to steer the direction of the story, resulting in different endings. It's an exciting development that opens a whole new world of possibilities for filmmakers and storytellers.

Conclusion

Netflix’s influence on the entertainment industry is undeniable. The company's rise to power has significantly challenged traditional distribution models. By recognizing the shift towards streaming services and original content, Netflix has positioned itself as an industry leader. The company has realized the value of their original content and is committed to ensuring that the viewers have a wide range of quality series, documentaries, movies, and more. With innovations like interactive storytelling in the pipeline, the future of Netflix looks bright.