Netflix have changed how customers watch movies and TV shows. This technology has taken a different point of view that changed what customers watch, not just how they watch.
The company collected vast amounts of data on the viewing habits of its subscribers. The collected data creates a rich social system that influences what members watch, based on which shows they've liked in the past and what other subscribers see and like.
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... you should be willing to disrupt yourself.
Netflix reshaped the logic of the entire industry. But the most important thing is how the company transformed itself to fulfil its mission. Initially, it mailed DVDs and then moved to broadcast movies and TV shows digitally. Today, Netflix is better known as a content creator.
Netflix has incurred external scepticism in every strategic move and required an internal rethinking of what worked before.
Netflix has invented a range of practices designed to connect the company's goals in the marketplace with how it organizes the workplace.
The company has a detailed statement of its principles, policies, and practices. In the manifesto, it states that "You say what you think, when it's in the best interest of Netflix, even if it is uncomfortable. You are willing to be critical of the status quo."
The global crisis of the 2020 Pandemic, resulting in billions in lockdown, has resulted in 16 million people signing up for Netflix in March, taking the total subscribers to 183 million.
This provides consumer companies an important lesson regarding the viability of their products in an economy where 22 million people are suddenly unemployed (in the U.S.) and millions more have a bleak future.
A growing list of evidence indicates that binge-watching may not be the ideal way to consume media.
Researchers have linked binge-watching to lower sleep quality, and studies have found that binge-watching shows might actually be less memorable and less enjoyable than watching new episodes on a weekly basis.
Over the past year, it has never been easier to find something new to watch on TV. Despite so much fresh content, there is a growing trend for people to rewatch old series.
Data backs up the anecdotal evidence that 2020 (during the pandemic) was the year of the rewatch. The most streamed programme in the US was the American version of The Office.
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