All About Netflix
Updated: Apr 3, 2020
The following is an article “All About Netflix” by Marc Primo.
Welcome to the future of television and film where we don’t have to purchase DVDs for copies of our favorite flicks. With Netflix, you are just a click away from gaining access to a comprehensive assortment of titles to enjoy. From high-rating television series, to blockbuster releases, to original content, Netflix has become the household name in entertainment streaming platforms today.
Founded by entrepreneurs Wilmot Reed Hastings, Jr. and Marc Randolph in 1997, Netflix started as a pioneering movie rental-by-mail business in the United States. After 22 years in the business, trusted global media company Forbes has recognized Netflix at number 38 in its Most Valuable Brand list and number six in its Best Employers for Diversity list. Last year, Forbes also listed the company at number six of its World’s Most Innovative Companies list, and at number two in the Top 100 Digital Companies list.
To give you a glimpse of how Netflix became one of biggest media players today, here are a few fun facts about the company.
Kibble. Netflix was originally named Kibble after Randolph’s dog who was pretty picky with his food. This was done so that every employee was reminded that no dog food advertisement is good enough if Kibble doesn’t eat the food.
First original content. Contrary to what most entertainment fans believe, House of Cards isn’t the first Netflix original to be produced. 2010’s Example Show is a test video with a running time of 11 minutes that’s both trippy and silly, but serves its ultimate purpose as what its title suggests--an example of a show.
Blockbuster. In 2000, mega-video rental chain Blockbuster almost bought Netflix for $50 million. The then CEO of the now-defunct company John Antioco passed up Hasting’s offer claiming that the DVD-mailing rental business was not as inclusive to members as traditional rental. Fortunately for Hastings who stuck it out with his brand, Netflix went on to be the best streaming service in the market today.
Most Popular. Market research company eMarketer reported last year that Netflix rose to the top of the most preferred streaming services among U.S. residents. Currently, Netflix is available in close to 200 countries worldwide, with nearly 140 million subscribers, and is the reason for 15% of the internet bandwidth across the globe.
Glitches. Netflix once experienced a glitch in its system back in 2014, which caused the merging of various titles’ summaries resulting in some amusing results. One such garbled combination asked viewers if the Samurai Rangers could annihilate Adolf Hitler after the Power Rangers series merged with Inglorious Bastards.
Two minutes. One fact about Netflix subscribers is that on average, they only spend less than two minutes in selecting a title. Viewers usually only spend about a minute and a half looking at about twenty titles before quitting the app if they don’t see anything good.
Analytics. Netflix’s game changer came in 2000 as it utilized software that integrated data collection and analytic tools to determine user preferences. Five years after that, the company had signed up a whopping four million subscribers, which continues to grow to this day.
Cross-platform. With good business sense, Netflix was able to move across various digital platforms partnering with such companies as Xbox 360, Blu-ray disc players, and television set-top boxes in 2008. The following year, Netflix could also be seen in PlayStation 3 and smart TV brands.
Expansions. Netflix only expanded across Europe in 2012, offering subscriptions to viewers in the United Kingdom, Sweden, Ireland, Denmark, Norway, and Finland and only reached Australia, New Zealand, and Japan in 2015.
Marathons. One last fun fact about Netflix that only a few people know is that it successfully coined the term “binge-watch”, which was the Collins English Dictionary’s Word Of The Year in 2015.