Netflix : Behind The Scenes of Success
Starting off as a DVD-by-mail service, Netflix transformed into the world’s leading global streaming platform, reshaping the entertainment landscape through its seamless interplay of digital media and cutting-edge technology. So what are some key opportunities Netflix can maximise on, in order to retain the whopping 260 million Netflix subscribers they gained in less than two decades? Let’s take a closer look.
Increased Reach
As Harvard Business Review states, Netflix is accessible digitally across 190+ countries, emerging as a pioneering force in the OTT entertainment world. Being 100% online, the accessibility that technology provides to consumers favours international growth and success. According to Sams, a key strategy is to keep low package prices, and the high revenues will come as a result of numerous subscribers. Netflix can lower their Premium pricing policy of £17.99/month, making it affordable to attract even more subscribers. According to Statista, most of Netflix’s subscribers were outside the United States, emphasising its diverse audience. To extend this, Netflix can expand their limitations on country based libraries, allowing inter-country film collections to be accessed by users worldwide without the restrictions on separately purchasing and using a VPN.
Enhancing User Interface
Netflix may use a technologically advanced user interface and sophisticated algorithms to massively contribute to the overall audience viewing experience. Through categorised homepage rows such as ‘Top 10 in India’ fostering seamless content discovery, Netflix’s organised format allows exploration in variety. However, there are several overlaps of films within rows, and viewers can get lost in the overwhelming world of options which may lead to mindless scrolling for hours. Netflix can reduce this by limiting films in each row to ten or twenty, allowing quicker navigation and top choices only.
In-App Benefits
Netflix’s app version has a few perks such as download options for offline use. However, they can delve deeper into only in-app benefits such as having lower subscription charges and screenplay options to project content onto any device easily, only through the app. This strategy would allow them to maximise the Netflix app usage, attracting customers worldwide. Additionally, strategies such as offering Netflix membership with rewards like gaining access to exclusive behind the scenes content from films on the app, would attract an increased amount of subscribers and foster higher revenue.
Collaborations
Inter-organisational collaborations foster creativity, reduce resource restrictions and can lead to greater success and engagement. Netflix can aim to collaborate with other streaming platforms such as Amazon Prime Video, producing collaborative original content that streams on both services, allowing a wider audience. For example, Netflix’s recent collaboration with Teleparty encourages audiences to watch simultaneously with friends, amplifying their views. Through joint social media promotional posts on platforms like Instagram, the content can be watched by followers of both streaming services, expanding user engagement.
Netflix Originals
Another opportunity Netflix can develop on is producing more Original content on the platform, characterised by high budgets and advanced production quality. This vision and investment has led to worldwide success and accolades such as Oscars, Emmys, BAFTAs, and even Grammys. Netflix can further maximise on this opportunity by creating a separate section or even a separate website for Original content, making it easily accessible. This may lead to higher number of views and better ratings for originally produced content, allowing Netflix to some day develop into a leading production house of its own.
Binge-Worthy?
Additionally, unlike traditional platforms such as HBO, Netflix releases all episodes of their original series all at once, earning the ‘binge-watch’ tag — which was popularised during the lockdown phase of the COVID-19 global pandemic. This addictive binge-worthy format of release allows subscribers to immerse themselves, keeping them constantly hooked. As my peers say, it’s the “just one more episode” effect. However, excessive screen time due to addiction could cause human health hazards including physical and cognitive impairments. This challenge can be solved through an inbuilt Netflix screen time check! This feature could be highly useful to set limits and providing reminders to viewing time, ensuring safe measures to binge-watching rather than staring at a screen for 10+ hours.
Let the Games begin!
In 2021, Netflix began a deep dive into the gaming universe through mobile apps, letting people play games for free included within subscription, outshining rivals such as Hulu. Netflix’s recommendation engine was created to do one thing primarily — drive personalisation. Reed Hastings describes it as “if the Starbucks secret is a smile when you get your latte, Netflix’s secret is that the web site adapts to the individual’s taste.” Developing on this strategy, the platform can indulge in personalisation of games for kids, as games are currently unavailable in KIDS mode. They can also make all the Netflix mobile games available to play on PC and TV platforms, in order to expand their multi-platform audience engagement.
Netflix and Chill ... in VR?
According to fellow Digisoc writer McWilliam, the development of VR technology and the increased accessibility of surround sound audio systems brings both the content and experience to life. Just this year, Netflix launched Stranger Things VR, where players explore the psychological horror/action game as a character, offering never-seen-before perspectives within the storyline of the world-famous Netflix series. However, this experience is restricted to viewers with expensive MetaQuest headsets. To combat this, Netflix can invest in interactive 360 degree film modes compatible on laptop screens, where viewers can play around with angles. Alternatively, they can develop affordable VR headsets exclusively for Netflix, create a VR app, or introduce a VR mode to its existing app that lets viewers switch between 2D/3D viewing options for compatible movies.
Netflix has evolved as a pioneering force of entertainment in the digital landscape. However, their current position can only be retained through maximising advanced technologies to enhance user experience, creating unique algorithm, infinite film collections, state-of-the-art interactive gaming developments, and amplifying personalised user recommendations in order to battle through ever-increasing competition. By seizing these tech-driven opportunities, they may continue to own the tag of undeniable leader in the competitive streaming service universe.
