Everyone is familiar with one of the top 6 streaming services whether it be Netflix, Hulu, Peakcock, Disney+, Paramount+, or HBO Max. There are Everyone knows and loves Netflix, however, not many know the history of it.
Before steaming services, there were Blockbuster and Redbox where you could rent DVDs, watch movies, and return them for a fee. This was a fine concept.
Blockbuster and Redbox had new releases, some older films, and more popular ones. However, a big downside was that each location only had so many copies of a DVD, so you were out of luck if they did not have the movie you wanted. Another downside was the late fees you would receive if you did not return the movie right on time.
The founders of Netflix, Marc Randolph, and Reed Hastings, saw these downsides of DVD rentals and decided to turn them into positive reasons. They started their first version of Netflix, where individuals could order a movie, and it would be shipped to them on DVD. Then, the customer would mail it back once they were finished. This was very popular and made just under $42 million in a year.
Later, in 2007, Netflix, as we know it now, was launched and was even more popular since they did not have to wait for the DVD and it had past shows, old movies, and popular movies all on one platform.
Currently, Netflix has 84.11 million paid subscribers, its own line of "Netflix Shows", and an app. It has truly grown and changed the film industry forever.
Netflix is currently ranked first in subscribers and revenue with Hulu second in revenue, and Disney + second in subscribers. With more than 200+ streaming platforms worldwide, this is a huge accomplishment and shows how far Netflix has really come.
Learning about the history of On-Demand TV Programming: Netflix gave me a new appreciation for how far our technology and world have come.
Shout out to Bria Ciocca, she did a fantastic job presenting her EOTO on "The Rise of On-Demand TV Programming: NETFLIX" to the class and was super engaging.
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