New Technology- Netflix

Like many others, I am big fan of Netflix, but did not know anything about it before doing this project. It was very interesting to learn the history of such a popular and important company.

Netflix was founded in 1997 in Scotts Vally, CA by software engineers Reed Hasting and Marc Randolph. The official website launched in 1998. Netflix originally started as an online rental service where customers could order copies of videos to their house. In 2002, Netflix became a public company getting the attention of more investors and customers. Between 2003 -2005, the company gained more than 3 million subscribers.

Later on in 2007, Netflix introduced its online streaming service so members could watch on their personal computers- this than led to the development of the app which launched in 2010. Also in 2010, Netflix opened their international market starting with Canada and Latin America; by 2016 the app was available in 130 countries.

Today, Netflix has over 148 million paying subscribers worldwide- more than half are in the U.S. The company is estimated to be worth more than $155 billion, beating out all of it competitors.

Netflix truly is such a great thing. Viewers have access to shows and movies right at their figure tips- often times used for educational purposes as well. Netflix is also more convenient for many as some people cant offered a monthly cable bill so they pay for a Netflix subscription instead which is more cost effective. Although customers complain about the limited variety of shows or lack of, Netflix is user friendly, affordable, and convenient for anyone therefor making it a great invention.

Although not included in my original powerpoint, this video is a great summary of the making of Netflix. It includes some very interesting graphs and visuals, particularly in relation to how Netflix has changed TV.

Comments

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Grace Obletz- Com Law

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