August 29th, 1997 in Scotts Valley, California, entrepreneurs Marc Randolph and Reed Hastings founded Netflix which was originally a pay-per-rental DVD mail-order business. Netflix's biggest competitor was Blockbuster, another pay-per-rental business. What made Netflix shine was the thought of using the internet and having an online subscription-based streaming of television shows and movies. The idea was made after Reed Hastings had found out he had an extremely expensive late fee when he returned a store-rented videocassette. This idea flourished to Netflix that many know now in 2007. This caused Blockbuster to close hundreds of stores to the point that there is only one store currently open in Oregon.
By 2010, Netflix began to spread from the United States to other different countries such as Canada, the United Kingdom, Latin America, etc. In 2018, Netflix had about 130 million subscribers, which became one of the biggest revenue-generating businesses in the world. By the end of 2018, Netflix came up with its very own Netflix Originals which means that they created their own shows or movies. Shows that many know such as Stranger Things, House of Cards and Narcos fall under this Netflix Originals category. A pro and Con to Netflix is that they are continuously adding and taking out shows/ movies every movie. Netflix is important because it leads the way for other streaming devices such as HULU, Amazon Streaming etc. It's a great way to watch tv without having to scrub through commercials for a small fee per month. It also gives people a reason to binge and be couch potatoes!
Comments
Post a Comment