NETFLIX’S MARKETING STRATEGY

ABSTRACT:-

With the global epidemic, home entertainment is particularly important. Netflix has grown substantially since the 2020 epidemic, adding 16 million subscribers. The development of original content attracts new subscribers through innovation.

INTRODUCTION :-

The closure of cinemas and numerous entertainment facilities during the pandemic shutdown made streaming services popular. Netflix is an American video subscription on-demand streaming platform. The main feature of Netflix is that it allows users to watch content over the internet whenever and wherever they want, which allows them to watch videos without restrictions. Netflix was the preferred streaming platform for US households during the pandemic. Netflix’s success is linked to the innovation of its business model, which was originally a traditional DVD rental sales model and then shifted to a streaming service. Netflix established a profitable model regarding paid subscriptions and in 2007 Netflix delivered one billion DVDs on the digital network and after starting video on demand, Netflix completely changed its business model. This was an important turning point in Netflix’s history. Netflix’s promotional strategy is up to date, making extensive use of social media, posting extensive promotional messages, gaining a waiting audience prior to airing and building an interactive relationship with viewers. In an era of globalisation of streaming, Netflix’s global development is limited by the cultural, historical, political and social conditions of different countries, which sometimes results in Netflix’s content not being accepted, such as the monitoring of content in the Chinese market. There are also some issues with maintaining subscriptions, relying on revenue from subscriptions and the high cost of producing original work. Netflix is the global leader in the streaming industry and has had an influence on not only the streaming industry as an industry leader but even the creation of future movies,TV series and short videos.

ISSUES :-

In terms of distribution, Netflix has a staggering number of productions such as films, TV series, specials or miniseries, and documentaries. Netflix has already distributed 100 seasons of TV series in local languages in 17 countries around the world and also plans to expand its investment in original productions in local languages. Netflix’s international expansion has been congratulated by audiovisual professionals from different countries who believe that Netflix can make good productions widely around the world and expose viewers to a wider range of productions.

CONCLUSION :-

Netflix has become a leading player in the streaming industry. It's growth strategy is worth exploring, starting with the conversion of it's business model from DVD rental to a paid subscription streaming service, using it's large database of users to reference its recommendation algorithms, consolidate users and improve the user experience.

Thank you,

Deeya Snehal