Netflix. Famous iconic brand
The history of the Netflix brand is very interesting. After all, the company began with an online DVD rental store, and now the company produces and distributes series and films of its own production. The company has had a long and not always easy road, but nevertheless they managed to achieve success and fame all over the world, becoming one of the most famous brands of our time.
Netflix was founded by Mark Randolph and Reed Hastings. Randolph admired the then young Amazon online store and wanted to use their business idea. The creators came up with the idea of delivering films via the Internet, but its implementation was hampered by the inconvenience of using VHS video cassettes.
When DVDs arrived, however, Randolph and Hastings set up their own online DVD rental store in 1997 with 30 employees and just 925 films—nearly all that was available on DVD at the time.
In 1999, the concept of a monthly subscription appeared, and in 2000, Netflix completely abandoned the one-time rental. However, the company suffered losses, had an audience of only 300,000 subscribers, and was even ready to sell the business to its main competitor BlockBuster, but they refused to buy.
The company was saved by the fact that by the end of 2001 the prices for DVD-players had fallen sharply, and people began to actively buy them. This means that the need for DVD-movies has also grown.
In 2002, the number of Netflix subscribers grew significantly. The company lists its shares on the NASDAQ stock exchange.
In 2005, Netflix already has 35,000 different films in its database and delivers about 1 million DVDs daily.
In the mid-2000s, prices for Internet traffic decreased and data transfer speeds increased significantly. Netflix plans to release a special device that would download movies overnight for viewing the next day. However, the discovery of YouTube makes streaming services popular, and by 2007 Netflix is moving to streaming data.
At first, of course, Netflix's streaming content (about 1,000 films) was significantly inferior to the DVD movie base (about 100,000 films), but its popularity quickly increased, so that already in 2009, streaming content reached 12,000 films and shows.
In addition to content, Netflix also provided its subscribers with a special Cinematch recommendation system based on reviews and ratings, through which they could find underrated films that could be learned from their own recommendations. And it was beneficial not only to Netflix users, but also to film studios.
Since 2010, Netflix has become an international company, starting to work first in Canada, and then in Australia, New Zealand, Japan, Russia, India and other countries.
In 2017, Netflix introduces another innovation - it launches a program to hire freelancers to translate subtitles, so that content becomes available in 20 different languages.
In 2018, Netflix is used by over 137 million people worldwide, making it the world's largest online subscription video service.
Since 2011, Netflix has been releasing its own series, and since 2017, it has acquired the rights to distribute third-party films. Some Netflix movies receive Oscar nominations.
And in 2021, Netflix decides to expand the subscription with access to video games. In 2022, more than 35 games are already available and 55 games are in development.
Now Netflix is one of the largest video services in the world and the brand is known and popular in many countries. Netflix services are enjoyed by people of all ages and interests.
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