#33. The Streaming Wars
Part 1: Series Introduction.
Previously we explored a series about Spotify and the music streaming business across 9 articles and learnt about the product strategies, business models, technology, and partnerships required to bring our favourite songs to our devices.
Today, I am excited to announce the start of another series: The Streaming Wars.
This would be mainly based on Netflix and its evolution from DVD mailing service to global streaming giant with over 212 million global subscribers.
We would be exploring the fierce competition between Netflix and Blockbuster, HBO, and other players like Disney and Amazon’s Prime Video.
We would not only consider the strategies, and business models employed by Netflix to remain on top, but also the state of the streaming industry in the UK, and in developing markets such as India and Africa.
The goal is to provide practical steps and lessons with which you can apply in your product, business, and organisation.
Netflix: A Brief History
Netflix is a media-streaming and video-rental company founded in 1997 by American entrepreneurs Reed Hasting and Marc Randolph, with the goal of creating the “Amazon.com” of DVDs.
The company started as a service that enabled customers to rent or buy DVDs online and have them delivered to their homes in red envelopes. At the time, consumers had limited options: watch free-to air television channels like PBS, rent or purchase a VHS tape or DVD, or access several channels through a cable subscription.
In 2007, Netflix launched a movie streaming service, and The Streaming Wars began.
Today, Netflix has 221.8 million global subscribers (Dec. 2021) compared to its closest competitor Disney+ 129.8 million global subscribers (Dec. 2021).
With a fast-saturating domestic US market, competitors are battling it out for who would win The Streaming Wars.
Netflix and the streaming industry it wrought has had one of the biggest impacts on our entertainment. This could be through one of its award-winning original TV shows like Bridgerton, or documentaries like Formula 1: Drive to Survive, or The Last Dance, launching a golden age of TV.
According to Fortune Business Insights, the global video streaming market size is projected to grow from $473.39 billion in 2022 to $1,690.35 billion by 2029, a forecasted annual growth rate of 19.9%.
WHO IS THIS FOR?
Are you an Entrepreneur, Investor, or someone who works in the Technology or Media industries, a Business School Student, or just interested in Netflix? then this is for you.
When starting a new series, I like to kick-off the conversation with a well-researched ‘anchor’ content (book, article, or podcast) about the topic.
Our chosen content for this series is the 8-episode podcast series Business Wars: Netflix vs Blockbuster by Wondery.
This series would comprise of at least 12 articles of both free and exclusive subscriber-only content, so I encourage you all to subscribe, and stay updated.
Join me on this journey to explore the past, present, and potential future of the Streaming industry. In the meantime, explore 2 of my latest series on Spotify and Strategy, Management & Teamwork for 2022.
You can also have a look at the Table of Content for all my writing across Entrepreneurship, Technology, Travel, Personal Development, and much more.
Thanks for reading and see you next week.
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Racing Towards Excellence.