Why is Netflix everyone’s go to streaming service?

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In 2007 Netflix transitioned to a streaming service to keep up with the growing internet infrastructure at the time.

With over 270 million subscribers and generating a revenue more that $9.4 billion in the first quarter of 2024 what makes Netflix more popular than other streaming services?

The company is expected to add 3.7 million subscribers in the second quarter ended June reports Reuters.

 

  • User friendly interface

Using AI has allowed Netflix to personalise the recommendations for each user which is a powerful tool others use as an example of using AI to market.

Over 80% of the shows people view on Netflix are based off of the platform’s recommendations.

Being ad free as well as the absences of any further pay walls is also what sets Netflix a part from its competitors. Once users have paid the initial member fee, they have access to all content on the platform. In contrast, Amazon Prime has a limited amount of content and more behind a further paywall which puts many customers off.

 

 

  • Original content

In 2013, Netflix created its own original show, Lilyhammer which was the first in a long line of successful shows and movies limited to Netflix. Many of the Netflix originals have gone on to win awards such as Stranger things winning an Emmy as well as Bridgerton which recently has season 3 released and claiming further success.

 

They are also known for keeping content fresh, the platform is reported to have spent $17 billion this year on content alone.

 

  • Adapting

Netflix has always kept up with trends as well as explored new streams of revenue and entertainment.

The wide variety on Netflix keeps the platform on top with documentaries, stand up comedy and there are even plans that they will be live streaming sports games at the end of the year.

 

  • Stricter rules on password sharing

Last ear Netflix decided to crack down on password sharing for its members so that only those who live together can share the same account.

This has helped Netflix’s profits soar as more people had to pay for their own accounts. The platform is so popular people weren’t willing to give it up.

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