![]() For example, with high-interest shows such as Stranger Things, Netflix is testing weekly releases. But setting trends means mixing things up, and Netflix is showing signs of new watch models. Binge-watching became an entertainment cornerstone, particularly during the pandemic. Netflix introduced the concept of binge-watching, so consumers didn’t have to wait for a new episode of their favorite show each week. ![]() Similarly, businesses should try to beat the competition by staying one step ahead in technology, service, operations and more. Netflix is a household name and industry marker. Netflix revolutionized how people rented DVDs, innovated with viewer subscriptions, pivoted to online streaming, and turned itself into an award-winning content producer. ![]() Being the innovator meant it was ahead of the competition at every step. Netflix has been an innovator throughout its history. Here are some lessons we can learn from Netflix’s continued success: What can we learn from Netflix’s success? Netflix uses big data to learn subscribers’ viewing habits and behaviors to drive future production decisions and user experiences. It has fierce competition from the likes of Hulu, HBO Max, Apple TV and many more services. With viewers enjoying more streaming entertainment, Netflix branched out into original content, creating award-winning movies and series. Blockbuster tried to follow Netflix into streaming, but it was too late for both Blockbuster and its movie-rental competitors. Still, Netflix’s ample, established customer base gave the company an advantage in this burgeoning arena. Streaming video wasn’t a new idea, and competitors lurked on the sidelines. Its customers enthusiastically welcomed the new model. As technology improved, Netflix started providing streaming video for its ballooning customer base. Video stores like Blockbuster continued to prosper for last-minute needs. Still, users had to plan their entertainment at least two days ahead of time – for example, by ordering movies on a Wednesday to arrive for weekend viewing. Netflix figured out how to fine-tune its distribution model for fast mail delivery. Netflix didn’t disagree in 2000, the company sought a $50 million buyout from Blockbuster, but Blockbuster wasn’t interested. Most people felt Netflix’s DVD-rental business wasn’t a scalable model and would die on the vine. Streaming technology as we now know it didn’t exist, and Netflix was about ordering your movies online and having them delivered to your mailbox. Internet speed was slow, and there was nowhere near today’s digital infrastructure. Netflix started its snail-mail subscription service in 1999. Netflix’s evolution is a modern tale of pivoting, staying ahead of the competition, and recognizing opportunities. We’ll take a closer look at Netflix’s journey, how it disrupted the media landscape, and what we can learn about digital transformation and innovation. Netflix’s ability to pivot, stay ahead of the competition, and set trends provides lessons for all businesses seeking success, growth and longevity in the digital age. ![]() For example, Netflix went from a modest DVD movie-rental subscription model to a digital media powerhouse that forever changed how we view entertainment. The past 20 years have been a fantastic journey in the world of technology, drastically changing the complexion of most businesses that survived the ride.
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