The rise of Netflix has been nothing short of amazing since it continues to

grow by leaps and bounds, adding more and more subscribers by

producing humungous amount of original content.

One of the main reasons for outstanding success of Netflix is strategic

dexterity. Its ability to adapt in order to grow has been awe inspiring and a
great lesson for businesses of all sizes and goes on to show how
innovative it is as a company. It has consistently worked towards strategic
goals, while also adjusting to meet consumers’ needs and market trends.

Netflix did effective modifications in monetizing process and has come a

long way from shipping DVDs by mail to online streaming service. Its
foresight has been extraordinary. Its true appeal lies in the breadth of its
library and the vast variety of shows it produces.

It is fearless to experiment with outlandish material than traditional

broadcasters outside the conventional ‘one episode a week structure’.
Netflix decided to push the envelope when it decided to make an innovative
move by releasing the entire season of its shows at once. Unlike cable TV
and satellite channels, Netflix made all the episodes available, thereby
allowing the subscribers to binge watch the entire season.

Netflix has always crossed the bars with prime focus on using every
technology upgradation without a delay. Furthermore, to captivate the
audience, the storytellers have advanced creative opportunities with the
latest video and audio capabilities. The company spends more resources
than virtually any of its close competitors on getting the technology behind
its streaming services right.

One key to their success has been their personalized video

recommendation system based on ratings and reviews by its subscribers.
Along with making their own TV content, Netflix invested in smart software.
It tracks subscribers’ watching habits and provides them with bespoke
recommendations for further watching. Netflix relies on aggressive data
mining of its subscribers. It has a more intense relationship with its
subscribers allowing it to observe customer behavior like never before.
Furthermore, they use this data to guide its content investments allowing it
appeal to many diverse customer segments by buying and producing a
wide variety of content. It has now become the creator of content, focusing
on investing heavy to the tune of billions in original programming.

Netflix is powerful culturally, too, having brought the world series such as
House of Cards, Stranger Things and Orange is the New Black, which have
penetrated the cultural zeitgeist and won Golden Globe and Emmy awards.

Netflix has emerged to become an indispensible part of the entertainment

industry, one that has changed the way people consume entertainment in a
way that no company has done in decades. Bringing innovation and variety
in the streaming industry, it has definitely become a craze in the centre of
digital revolution.