Netflix: User friendly movies!

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Contents

Introduction:

Netflix includes a variety of features/uses for all users including the everyday movie lover or corporations interested in instructional videos or employee incentive programs. Videos from Netflix can be accessed by directly uploading them to a television via the internet through the use of gaming systems or a Blue Ray Player. DVDs can also be sent to your home address via mail or accessed on a computer anywhere via the internet. Netflix makes this service very accessible with ease of use and limited stress agreements. This product can be used in a variety of ways including: language education, self improvement/growth, exercise, and personal entertainment.

History

Netflix was founded in August of 1997 in Scotts Valley, California by two men; Reed Hastings and Marc Randolph. Both men began working at Pure Software along with Mitch Lowe. They introduced a subscription movie plan in September of 1999 that helped to create a specific client base which also made it easier to reach different demographic groups and expand the business. Netflix decided to go public in May 29, 2002, offering 5.5 million shares at approximately $15 per share. With an ever expanding business, Netflix reached an important milestone in February of 2003 of 1 million subscribers. The company has continued to grow and on September 23, 2010, the company's CEO Reed Hastings announced that Netflix aims to expand beyond the U.S. and Canadian market.

Key Date Timeline:

1997: Established in California by Marc Randolph and Reed Hastings.

1998: Website launched offering DVD rentals and sales.

1999: Monthly subscriptions are offered and Group Arnault invests $30 million in the firm.

2000: Revenue sharing deals are signed with Warner Brothers and Columbia film studios, video recommendation system, "Cinematch", is used.

2002: Initial public offering of the company's stock.

2003: Reached over 1,000,000 subscribers and had its first profitable quarter.


Corporate Uses

Netflix has a variety of current uses as well as potential uses for large corporations. Currently, wellness/exercise videos could be obtained via Netflix which would be an affordable and up-to-date method to keep up with health and fitness which statistically leads to a more effective and efficient workplace. In the future, Netflix could incorporate more company-specific training. It could also consider incorporating constant uploads from organizations such as OSHA to make sure all businesses are aware of changes in laws/regulations. A more indirect way Netflix could be used in corporation would be to offer subscriptions as employee incentives. Employees could then use these subscriptions to learn about physical health and well being as well as industry specific information. These subscriptions could also be used for entertainment purposes.

Netflix also provides many opportunities for the entertainment industry. It has been recognized as a new market to distribute their product. Specifically, Warner Brothers and Columbia film studios have entered into revenue sharing agreements with Netflix.


Options

All of the below are quick and easy ways to access movies directly from your couch. There are even more options available from your PC. These include internet video streaming from computers running either Windows or Mac OS X. This is provided for no additional charge with a subscription. You can also have the choice of receiving DVDs by mail directly to your home.

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Conclusion

As can be seen above, Netflix is not only an easy and affordable source of entertainment but it also encompasses a wide range of interests. Even though Netflix is a successful business, there is always room for improvement such as; having more educational resources, business development tools, and integrating current events (news coverage, sports, legal, etc.). By making these changes, Netflix would appeal to an even wider variety of customers thereby expanding their business even farther.

References

"Google." Images at Google. Web. 24 Nov. 2010. <http://images.google.com>

"Netflix." Wikipedia, the Free Encyclopedia. Web. 22 Nov. 2010. <http://en.wikipedia.org/wiki/Netflix>.

"Netflix-Watch TV Shows Online." Netflix. Netflix Inc. Web. 25 Nov. 2010. <http://www.netflix.com>.

Time, By This. "Netflix, Inc. -- Company History." Find Funding with Banks, Investors, and Other Funding Sources | FundingUniverse. Web. 01 Dec. 2010. <http://www.fundinguniverse.com/company-histories/Netflix-Inc-Company-History.html>.

YouTube - Broadcast Yourself. Web. 01 Dec. 2010. <http://www.youtube.com/>.