Jul 15, 2020
Netflix: A Marketing and Business Powerhouse
Netflix now counts over 238 million paid subscribers according to Statista – so if all its customers were a country, they’d be the 6th largest one in the world. That’s how huge Netflix’s reach and impact is.
For many households, the unstoppable streaming service has replaced a traditional TV subscription, and put the power into consumers’ hands when it comes to the content they watch, the time they watch it, and the device they consume it on.
Despite fierce competition, Netflix still has more customers than rivals Amazon Prime and Hulu. And this comes after Netflix surprised markets by reporting its first subscriber loss in nearly 10 years in April 2022 causing its stock to tumble by 35 percent.
This subscriber blip signaled a new era for the brand and a move to introduce new initiatives (more of that below!) resulting in its stock value recovery just one year later.
Netflix is clearly doing something right. So let’s dive into their growth, usability, customer-driven personalization, branding and marketing.
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