IMAGINE our beloved HBO series GAMES OF THRONES was a Netflix show. I am already drooling at the idea of getting to see all the episodes of season 7 in a marathon single session. (You won’t see Game of Thrones on Netflix at any point in the near future because of the opposition amongst HBO and that organization).For some the idea of waiting for a week , anticipating the plot and tuning onto TV at the correct time with some popcorn is a great way to have an awesome weekend.But what about the rest of us who don’t have this privilege. Fortunately we are in the 21st Century and we have Netflix to save the day.While some of you guys are cringing due to missing some episode’s and eagerly awaiting DVD release of season 6th of Games of Thrones , we with an account on Netflix will be having a blast watching HOUSE OF CARDS, DAREDEVIL, JESSICA JONES and many more.
TIME-LINE OF NETFLIX ..
Netflix was founded on August 29, 1997 in Scotts Valley, California by Reed Hastings and Marc Randolph.In 1998, around a year after Netflix’s establishment, the organization developed by launching the DVD via mail business.In February 2007, ten years after its establishing date, Netflix conveyed its billionth DVD. The organization was to a great degree fruitful around then, yet chose to turn, and moved far from its unique center plan of action of mail-requested DVDs, and presented a new service – video on demand through the Internet.
This choice was the start of another innovative age that offered clients an agreeable approach to watch films legitimately without leaving home. Fantastic, quick and effectively open substance accessible from a wide range of gadgets at whatever time, place, and at low costs . Soon they launched their services in Canada in 2010 and now from beginning of 2016, it serves more than 190 nations.This approach has as of now pulled in more than 83 million subscribers around the globe .
KEY MARKETING STRATEGIES ..
One of Reed’s motivations for Netflix originated from the exercise center he had a membership with…The gym just needed to pull in a client once, yet it could keep on charging client’s consistently.
For whatever length of time a business is giving their clients something they need people will pay up. Netflix based their monthly subscription model on this.
INTRODUCTION OF UNIQUE AND ORIGINAL CONTENT
At a time when the streaming TV landscape had never been more robust, Netflix told investors it will focus on promoting its original programs — from the Kevin Spacey political drama “House of Cards” to newer shows like “Unbreakable Kimmy Schmidt” and “Bloodline” — instead of simply hawking the virtues and price of the service itself. This gave a sense of exclusivity to their subscribers and people adhered to the company.
OUTSPENDING THEIR BIGGEST RIVALS
They are also investing close to $5 billion on original content in 2016; this compares to a 2015 revenue of US$6.77 billion (2015). That’s almost double that of HBO’s budget.In the event that all goes as arranged, Wall Street expects revenues could reach up to more than $500 million in 2017.
Netflix started forming alliances with several big time players like Microsoft, Apple, Playstation etc.
Take there alliance with Apple for e.g. : Netflix permitted the owners of the Apple TV set-top box to sign up to Netflix directly.They could even pay for the service through their iTunes account.
For Netflix, it was a chance to get to Apple’s expansive client base.For Apple, it was an opportunity to give their clients more content
FREE ONE MONTH SUBSCRIPTION
The best way to grab attention of potential new customers.Start dishing out free one month subscriptions. This free subscription model is like planting a seed. Sow today and reap rewards later.
SWOT ANALYSIS OF NETFLIX’s MARKETING STRATEGIES ..
The results of these strategies were really amazing but there is always a scope for improvement, so I chose to distinguish (with a little assistance from the SWOT investigation) what sort of qualities and shortcomings Netflix has created, which opportunities and dangers it might confront amid the following couple of years, and, at last, how every one of the four sorts of elements identify with each other.
In which direction does Netflix go from here in the future is uncertain , but for now they well and truly rule “THE SEVEN KINGDOMS“.