Netflix is making strides- What's driving their success?
Netflix is making a lot of money! Although prices have increased all over the world, Netflix has had 37 million people subscribing last year adding to the already 200 million paid members. They have grown 30% from 2019! Once they raised their prices, Netflix hit $25 billion in revenue and $2.8 billion in profit for the year.
The BBC reported that some of their success is coming from “non-Anglophone” shows. Over 80% of Netflix’s new users have come from outside the US and Canda with Europe being the leading country. The French- language show Lupin skyrocketed to the number one spot in Brazil, Argentina, Germany, Italy, and Spain all while ranking second in the United States. Netflix estimates that 70 million households will watch the show in its first 28 days of being out!
Netflix is becoming a force to be reckoned with in the filmmaking and television industry. They used to heavily rely on other companies for their content but now with Bridgerton, Tiger King, Squid Games and Money Heist people are craving more “Netflix Specials”. Netflix responded to the people and planned to release at least one original film every week in the year 2021.
The major reason Netflix continues to succeed is their constant winning battle with the competition. Disney, Viacom, HBO, Hulu and so many more are pushing their efforts into streaming, but they are new to the game. Netflix has been around since 1997 allowing people to buy and rent DVDs and later came out in 2007 with their streaming service. Netflix was ready for the competitors and will continue to strive to be the number one streaming service worldwide.
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