We all know the reigning king of entertainment is the one and only – Netflix. There’s a reason it has gained over 10 million new subscribers at the start of this year alone and has earned an established reputation for providing fresh and innovative content which has ensured no other streaming platform can even reach its level.
Recently founder, Reed Hastings even made a comment saying, “We want to have so many hits that when you come to Netflix, you just go hit to hit to hit and you never think about those other services.”
This just shows how confident the streaming service is in their ability to capture the largest market share in the digital entertainment industry – and retain it.
Netflix’s strategy to capture the entire online video streaming content on its website is ambitious but it knows it can’t monopolize the market. So it has started to rev up its production of original and exclusive films and web series that can replace nearly anything one might find on traditional cable TV except sports and news.
The biggest hits on Netflix have ranged from reality TV, documentaries, foreign language series, action thrillers and fantasy series which all indicate that the growth of Netflix will remain steady if they continue to offer diverse and premium quality content.
Over the last 20 years the demand for rom-coms and drama films in theaters has significantly reduced from 25% and 23% to 7% and 12% respectively. And theaters’ loss is Netflix’s gain because people go online nowadays to watch these genres.
In Netflix’s recent top 10 most watched list, action and comedy genres dominated the list which just confirms the fact that Netflix’s advantage is capitalizing on more commercial films that draw huge views and producing more shows and films from international markets as well.
This is the way forward for Netflix now let’s see if it can deliver on its promise and truly become the one-stop destination for all entertainment.
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