Netflix CEO Reed Hastings proudly announced in the biggest technology event from the beginning of this year, CES 2016, that their streaming service is now available in the Philippines, South Korea, Vietnam, Turkey, Azerbaijan, Russia, Nigeria, India, Saudi Arabia, Indonesia and Poland. Netflix is also dominating other 130 countries that are enjoying their digital media content providing a new definition of entertainment. Unfortunately, China is one of the countries that Netflix is still hoping to have their streaming services available in the later time. Because of China’s current political system and laws imposed in the market, operating in China would be a big challenge for Netflix, as we all know US based companies that operate in China draw some setbacks in the past years because of its unstable economy. Another phenomena (however, unrelated to our case) is the emergence of those knockoffs of American products, which are rampant in Chinese owned businesses, copying everything, from company names, designs to complete concepts.
The success of Netflix is remarkable because of their consistent and reliable services; they revolutionized the way entertainment should be delivered into our households. Video streaming is getting popular because we can access it without using additional components such as CDs or DVD players. We can instantly watch streamed video using our mobile phones, tablets or smart TVs. However, having a high speed internet connection is necessary to experience video streaming.
Last year, one of US’s top stock market performer is Netflix, they are included in the top 500 S&P. Two weeks ago, they gained a 6% increase on their stocks trading last Wednesday. Because of the wild goose chase in the market, last Monday, the value of their stocks declined sharply. A market analyst named Robert W. Baird cut Netflix’s stocks rating due to the increasing digital content costs.
According to Hastings, Netflix subscribers spent 12 billion streaming videos on last year’s last quarter. In 2014, their subscribers streamed digital content for 29.1 billion hours. Last year, Netflix’s streaming dramatically increases up to 42.5 billion hours.
Today’s technology advancement in technology complemented the emergence of digital streaming and it revolutionized the way people get entertained. Today, subscribers are in the driver’s seat of entertainment, they are always in control on which show they are intending to watch whether it’s a TV show or a blockbuster hit movie.
Netflix’s CEO also claimed that they had reached almost all of U.S households. Statistically, they have more than 70 million households around the globe and thousands of their subscribers use their mobile app streaming platform. Netflix’s app is also pre-installed in a stock ROM which is manufactured by some smart phone makers.
Ted Sarandos, Netflix’s Head of Acquisition, announced in a press statement that this will be a great year for the Netflix subscribers. They will air several TV shows that are originally produced by Netflix, which will add a total of 600 hours of air time. Netflix’s subscribers may expect new TV programs like “The Crown about Queen Elizabeth” and “Get down”, a New York’s story about the emergence of hip hop and disco in the big city.
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