It was around 3 am and I couldn’t stop thinking about the episode of Money Heist that I had watched the day before. I kept wondering what will happen next to my favorite character Tokyo.
I thought why to wait until morning to find out what happens next, so I sneaked into my room, quietly opened my phone, and started watching the next episode without anyone noticing that I was awake the whole night.
This is the exact scene that would have happened for most of the people out there. Because we have unconsciously got addicted to video streaming apps as all we love are binge-watching our favorite programs and shows.
Also, the ‘Stay at home’ rule during lockdown accelerated our interest in watching our preferred shows during our leisure time. So, it has become a daily routine for most of us to use streaming apps like Netflix to get a much-needed break from our tight work schedules and household chores.
Do you agree with this?
Have you also ever wondered how and why the video streaming app like Netflix is growing at an unbelievable pace globally? If yes, here are some quick bites for you.
- In the first quarter of 2021, there were around 208 million Netflix subscribers
- Based on the viewing preferences, Netflix has set up 1300 recommendation clusters
- Netflix is responsible for nearly 8 % of total time spent watching videos globally
- The average age of Netflix users is 35–44 years
- Nearly 41% of the Netflix users utilize the platform without paying anything
Do these Netflix statistics urge interest in you knowing more about this video streaming giant? If yes, then I would say that these points are just an appetizer, get ready to taste the main dish!
What is all about Netflix?
Why was Netflix created?
Will anyone believe that the idea of Netflix was born due to some itsy bitsy fine amount? No one will accept this in the first place.
But, actually, Netflix’s founder was fined a small amount for renting a movie from Blockbuster and returning it late. This made him invent Netflix to provide a movie rental service. Users ordered the movies they wanted on Netflix and received DVDs by post in earlier days. Now, eventually, it has turned into a giant streaming service platform where users can watch a range of videos of different genres, languages, etc
History of Netflix
1997: Founded to offer movie rentals
1999: Began to offer subscription-based DVD by mail service
2000: Utilized analytics tools and collected big data for recommending videos to rent
2007: Launched online video streaming along with its DVD by mail service
2016: Expanded to 130 countries with a global reach of 190 countries
2020: 180 million subscriber base
When did Netflix become popular?
Netflix faced an upsurge in growth ever since the launch of its subscription model in 1999. It has grown from a company with just 239,000 subscribers in its first year to a 209 million subscriber base in 2021. It has become a $100 Billion company in 20 years
How did Netflix become successful?
There are some key strategies of Netflix that you should know that really made it successful and stand out from its competitor’s
Utmost convenience in watching videos: Users on Netflix enjoy watching their preferred movies with convenience and with a personalized experience
Staying current with Technological progress: Netflix eventually moved from mailing the content through DVDs to streaming TV shows and movies of good quality.
It also began with its unique, original production content which became a hit worldwide
Range of videos: Users can watch TV series, movies, documentaries, and other types of videos on Netflix with a hassle-free
Ad-free experience: We really like watching shows and videos without any interrupting ads, right? This ad-free content is a very important reason for the popularity of Netflix
Customer-created preview videos: Preview videos play while scrolling through a title card. Users can also watch the shows offline with the ‘Download and go’ option. This feature enriches the experience of users on the platform
Netflix recommendation engine: Netflix effectively uses Machine learning and knows what and when users watch on the platform every day and how many programs or episodes are watched by them.
The platform will thereby automate the decisions as per the user activities. This system of Netflix will greatly save time for us in searching for our most preferred TV shows and movies
Game plan for original content: As per the source, Netflix planned to spend 85% of its resource on original content in the year 2019. This investment is obviously higher than its competitors such as Hulu, Amazon, etc. This is one of the reasons why Netflix tops the customer satisfaction surveys.
How does Netflix measure success?
To measure its success, Netflix considers some metrics such as the total customers watching videos, completion rate, and total hours viewed to measure its success
How many employees are there on Netflix?
As of 2021, Netflix employed around 11,300 workers approximately which is almost double the number that was recorded earlier in 2016.
( Sourced from Statista )
As we all know Netflix has grown from an exclusive U.S based company to a global enterprise and so it is of no surprise that it employs such a large number of workers for handling its operations worldwide.
How does Netflix work technically?
What technology does Netflix use?
Adaptive bitrate streaming technology — To adjust video/audio quality to match network conditions and broadband connection speed
Traditional business intelligence tools, data processing software like Teradata and Hadoop, and own open-source solutions — To collect, store and process a massive amount of data.
What software does Netflix use?
Netflix makes use of the below-mentioned open-source software in the backend
- MySQL
- Java
- Apache Tomcat
- Gluster
- Cassandra
- Chukwa
- Hadoop
- Hive
Where does Netflix store its data?
Amazon Web services (AWS) — For storage and computing needs, including Recommendation engines, Analytics, Databases, and Video transcoding
Do you understand now how Netflix delivers best-in-class entertainment, scales quickly, and operates quickly? It is wholly due to this comprehensive cloud computing platform.
What coding language does Netflix use?
Python — For the full content lifecycle, right from its security tools, and recommendation algorithms to its proprietary content distribution network (CDN) Open Connect
Scala and Java — For most of the back-end tasks
How does Netflix make money?
How much does it cost for Netflix?
Three subscription plans of Netflix are
- Basic
- Standard
- Premium
You can subscribe to the preferred plans of your own choice to enjoy watching your desired videos at your utmost convenience
How much money does Netflix make in 2021?
Total revenue in 2021–30 billion U.S dollars Approx
Are you able to believe that this amount is approximately 10 times higher than the annual revenue of Netflix in 2007? But, it is true!!
10 years ago Netflix has made 1.67 billion U.S dollars and it reached the highest amount to date in 2021.
( Refer statista for further details )
How much money does Netflix make annually?
Netflix year-wise Annual revenue details.
You can also have a look at backlinko for further information.
How much is Netflix worth in 2021?
Revenue in 2021 $29.7 billion
Profit earned in 2021 $5.17 Billion
Profit in (4th quarter 2021) $607.4 million
( Source from Gobankingrates )
Netflix has a market capitalization of $267.46B and this makes Netflix the world’s 146th most valuable company
What is Netflix's stock price today?
The current Netflix stock price is 199. 28 USD (this value will vary every day)
How Netflix will be in 2022 and beyond again?
The expansion of Netflix will continue in foreign markets and so the company seems to continue dominating the markets in 2022 and onward.
Netflix total subscribers
How many subscribers does Netflix have in 2021?
221.84 million subscribers — By the end of 2021
221.64 million subscribers Approx — By the first quarter of 2022.
( Sourced from Statista )
Which country has the highest Netflix users?
To date, the US has the highest Netflix subscriber count at 63.1 million. Other top countries with the maximum number of Netflix subscribers are:
- Brazil
- UK
- France
- Mexico
How many subscribers does Netflix have worldwide?
Netflix Annual subscribers count since 2013 (Values cover the second quarter of each respective year)
Year Annual subscribers
2013 = 35.6 million
2014 = 47.9 million
2015 = 62.7 million
2016= 79.9 million
2017 = 99 million
2018 = 124.3 million
2019 = 151.5 million
2020 = 192.9 million
Refer for further details.
Netflix Competitive Advantage
What is the most popular streaming service in 2022?
Do you think there is any most desirable streaming platform other than Netflix? Certainly No.
Netflix is a popular streaming app with a high number of subscribers worldwide. To prove this point, I would like to add some Netflix viewing statistics here that reveal that viewers spent 6 billion collective hours per month on Netflix in 2020
Also, the total viewer pool of Netflix is estimated to be 300 million worldwide.
You can also refer to know Netflix viewing statistics
How did Netflix beat its competitors in 2022?
Netflix builds its competitive advantage by
- Original content production
- Following a Generic Competitive Advantage strategy
- Creating Interactive programming to make original content stand unique from the competition.
Who is Netflix’s biggest competitor in 2021?
- Amazon Prime Video
- HBO Max
- Disney Plus
- Peacock
- Hulu
- Apple TV Plus
Why Netflix will remain the king of streaming services?
With future growth potential, tons of popular original shows and films, quality exclusive content, and innovative feature inclusions, Netflix will remain the king of streaming
Final thoughts
You would have already known that Netflix is a bigger and more powerful video streaming service provider.
But, what you would have not known earlier is how the company is successful and some exact details about its growth rate, popularity, etc and that would be now crystal clear to you from this blog. Making money is possible everywhere and from everything, you see and make use of it. So, the decision is totally yours to utilize these key details and Netflix statistics and make the best out of it in your future endeavors.
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