Nowadays the internet entertainment platforms have taken the lead in our lives. It influences the way we live the way we think the way do things around us. Some may demystify the essence of watching a good movie or a film, but seriously what is in our lives without a form of entertainment? It affects our lives in more significant and meaningful ways than we can think.
The truth is films and series have the ability to communicate and entertain us in different ways. They come in different categories e.g., informative, educative, entertaining, etc. and to close in this gap is Netflix which is the world’s leading Internet television network with millions of subscribers in nearly 50 countries who have access to an ever-expanding library of award-winning TV shows, movies, including original programming, documentaries, and feature films.
This streaming service allows members to watch a wide variety of this, and it only requires any internet-connected devices. With Netflix, anyone can enjoy unlimited ad-free viewing of interesting content. Netflix frequently updates its content every month, which makes it an interesting entertainment site. Netflix offers the ability to watch what subscribers want, anytime, anywhere, on nearly any Internet-connected screen, this makes it the most sorted internet streaming media provider
There are two stories related to Netflix’s inception. Reed Hastings, the founder, has narrated it in different versions, while his co-founder Marc Randolph has had his own version of the story. Randolph tends to spread the credit around a little further than Hastings, who credits the formation from a penalty to pay a late fee for a rental movie. On the other side of the story, Randolph said the two had been trying to create their own “Amazon.com,” an idea they had tried to explore for some time.
Despite the difference, Netflix was founded in 1997 by Hastings and Randolph as a channel to offer movie rentals using the internet. This eventually led to the creation of Netflix.com in 1998, which focused on DVD rentals and sales and became the world’s first online DVD rental and merchant. The following year the company added more subscription services, allowing the customer to have more unlimited DVD rentals at a subsidized monthly rate. In 2000 it recorded remarkable growth when Netflix offered recommendations systems, which became a personalized system used members ratings to predict all Netflix member’s choices.
Netflix Starting out as a DVD rental business in the late 90s, Netflix has come a long way to establish itself as the world’s leading streaming entertainment service. Users would browse and order the films they wanted on their website order for it, and then Netflix would post them to their home. When they finished with the DVDs, they would just post them back. In those days, rentals were around $ 4 and an additional postage charge of $2.
Netflix has experienced significant growth, and this transition has led it to switch to a subscriber-based model. With this model, users keep the DVDs for as long as they like but could only rent a new movie after returning their existing one. In 2007 Netflix then introduced streaming; by using this method, the member would instantly watch movies and television shows on their personal computers. This was considered to be a great milestone for Netflix.
In the year 2008-2009, they also created partnerships with other consumer electronics companies to stream on various internet devices like ps3, Xbox 360, and other internet-connected devices. In 2010 Netflix became available on iPod touch, iPhone, apple I pad, and other devices that are connected to the internet. In the same year, Netflix would also introduce a streaming model that is well known even today.
During this time from 2009-to present, Netflix continued to extend is market to various countries and continents to increase its market share. Up to this day, Netflix boots of over 50 million members globally. This is a very great achievement as very few companies have been able to hit this mark.
Awards and Achievements
Netflix has become a sensation because of its popularity. This has attracted several nominations and awards. It was first nominated in 2012, where it won its first Primetime Emmy Engineering Award by 2013 Netflix became more recognized, and it has attracted more awards. It received 31 primetime Emmy nominations including comedy series, outstanding drama series, and documentary or nonfiction special for “House of Cards,” “Orange is the new black,” and “The Square,” respectively. With all this nominations House of Cards won three Primetime Emmy Awards. As a result, Netflix became the first internet TV network nominated for the Primetime Emmy.
Net worth of Netflix in 2021
Netflix has flourished with increasing numbers in its membership, and this is continually also increasing its income statement. Its growth is based on the rise in subscription fees. Their net worth also comes from selling the company’s shares, which are currently trading at $331 a share. The biggest revenue. In 2018 there were more than 130 million subscribers with the rental department maintained to be the most profitable.
As of June 2021, Netflix has a net worth of $20 billion, with the figures set to increase as they continue to launch different innovations.
Netflix relies on increasing memberships for their company to thrive. They are working tirelessly to make sure that these numbers are constantly on an uprise so that they may stay ahead of their competitors, to increase their market share.