Do you watch Netflix? It is the new giant behemoth of the world’s entertainment industry.
And a lot of people are foregoing their traditional TV channels by dropping their services with their local television providers, i.e. the telephone companies, and turning to Netflix instead.
And why not?
The company is spending a fortune – $8 billion (U.S.) this year – on producing top movies and television shows, much to the chagrin of the Hollywood movie studios and the traditional major television networks.
And everyone in the movie and TV business is running scared of Netflix.
And they should be.
Today the company has a world-wide audience of 125 million, compared with only 33 million a few years ago.
And the prediction is that by 2020 that figure could rise to 200 million and some analysts feel the company could have 300 million subscribers by 2028.
Not bad for a company that started a mere 11 years ago.
And it began by mailing out DVD’s.
But there was a strategy behind it.
It also financed and outbid two big entertainment companies HBO and AMC for the rights of a remake – the British series, House of Cards.
It cost Netflix $130 million for two seasons and the gamble paid off, House of Cards became one of Netflix’s biggest hits.
And after that Netflix changed to a streaming model. People could now watch great shows on their televisions instead of mailed-out DVD’s.
Today Netflix is on a roll.
It now produces more TV shows than any other television network.
It constantly outbids the major Hollywood studios for the best directors, producers, stars and scripts.
So, do you watch Netflix?