Netflix has done an excellent job at securing its position as a leader in the online video streaming industry. Their ability to instantly provide an abundant amount of content to their customers in over 40 countries around the world, has given them a competitive edge over their rivals. With a strategy that emphasizes innovation and continuous improvement, Netflix has been able to adapt to their customers demands for more content at an affordable monthly rate. As they were one of the first competitors in their industry, they were able to secure exclusive licensing agreements with some of the most sought after content providers.
Netflix’s new endeavours of providing Netflix Originals has been a tremendous success. Consumers are now joining Netflix just so they can have access to it’s original content. This gives Netflix a distinct advantage over their competitors. As many of Netflix’s competitors can provide the same content to their viewers, because of similar licensing agreements, Netflix is the only place to view Netflix Originals.
To maintain their title of industry leader, Netflix needs to ensure that they stay two steps ahead of their competition. This means working on agreements to gain the right to air content sooner after it has aired on television or in the theatre, fighting for the rights to new content, continuing to produce new original content, and developing new strategies for generating revenue that is least likely to increase the subscription prices for customers. If Netflix can implement these recommendations to their current strategy, they will be able to strengthen their market share and expand their customers base.
Netflix’s new endeavours of providing Netflix Originals has been a tremendous success. Consumers are now joining Netflix just so they can have access to it’s original content. This gives Netflix a distinct advantage over their competitors. As many of Netflix’s competitors can provide the same content to their viewers, because of similar licensing agreements, Netflix is the only place to view Netflix Originals.
To maintain their title of industry leader, Netflix needs to ensure that they stay two steps ahead of their competition. This means working on agreements to gain the right to air content sooner after it has aired on television or in the theatre, fighting for the rights to new content, continuing to produce new original content, and developing new strategies for generating revenue that is least likely to increase the subscription prices for customers. If Netflix can implement these recommendations to their current strategy, they will be able to strengthen their market share and expand their customers base.