Have you ever sat on your couch, watching endless hours of tv? Have you ever watched an entire season of a new show all in the span of a few days? I’ll be the first to admit, I have and it’s been through Netflix. Most recently, Season 3 of House of Cards, a Netflix Original Series starring Kevin Spacey was released in February. I watched 13 episodes, approximately 13 hours of watching tv in the span of a few days.
Netflix was founded in 1997, and is the world’s leading internet subscription service for enjoying movies and TV Shows. It has 62 million members in over 50 countries with more than 100 million hours of TV shows and movies including original series, documentaries and feature films. Members can continuously watch without any commercials which is a huge benefit.
The question is, will Netflix be able to continue being the world’s leading internet subscription service with so many emerging competitors? Netflix thinks so. The company acknowledges they don’t and can’t compete on breadth of entertainment with Comcast, Sky, Amazon, Apple, Microsoft, Sony or Google, but they have to be a focused, passionate brand. The company plans to spend over $600 million in marketing to attract people around the world to try their video streaming service.
I believe the road ahead for Netflix will be a challenging one. As a user of Netflix, I don’t pay any membership fees. How? I’m able to use my brother’s account. Am I loyal to the brand? No, I use whatever video-steaming service is the best for a particular show I want to watch, which is constantly changing.
So will Netflix be a dominant player in the video-steaming service? I think so, but will have a smaller piece of the pie.
– Victoria Bambrick