How Online Platforms Such As Netflix, Amazon Prime, and HBO Now Change the Movie Industries
Can you still remember the last time you actually went out and drove to the theater? Meanwhile, when was the last time you used Netflix to watch a show or movie?
If you are just like any consumers these days, chances are you have been doing the second thing much more often. Even with movies raking in millions at the box office, the subscribers of Netflix have grown to as much as 10% annually. In fact, it has been estimated that in the United States alone, Netflix already has over 59 million subscribers. It is safe to say that Netflix is the true epitome of a modern media company, with its surmountable impact now felt in different industries. Experts even coined a name for it – the Netflix Effect.
Netflix and How It Changed Content Viewing
Back in the pre-Netflix era, consumers actually rented DVDs or VHS tapes, went to the movies, and watched any show airing on live TV. Fast-forward today when consumers can instantly and easily stream content anywhere, anytime, and on practically any device.
Netflix has indeed changed the way consumers access TV and film. Gone are the days when they are glued to their TV screens and forced into sitting through those long and boring commercials. People no longer pay for their cable plans and instead, they have decided to cut the cord and use only streaming services. The number of Netflix users is growing by the day as consumers now prefer the amazing flexibility of the ability to watch when they want, what they want, and where they want.
Programming is no doubt one of the key factors that drive consumers into choosing the way they view content. Consumers no longer want to spend their hard-earned money on content they don’t like or won’t watch at all. Original content released by Netflix is also an added allured to the viewers. This means that they will be able to watch majority of network shows in several places yet they will only be able to get the original content from Netflix alone.
Netflix and Its Impact on Movie Industry
While Netflix now affects numerous industries, the movie and TV industries feel the most impact. The content from Netflix is put right before customers for convenient marketing. They have also moved to the category of independent films recently wherein traditional films in cinemas usually fight hard just to be seen. With Netflix, even small and low-budget movies can be seen by an audience.
The Netflix Effect is no doubt a strong force that is hard to beat as this is the move to a more personalized and convenient content. The undeniable success of Netflix is a proof that consumers now prefer products that they can easily use and were tailored to suit their personal preferences.
All companies, whatever the industry they belong to, can definitely learn lessons from Netflix and follow the principles of personalization, disruption, and innovation. If they fail to do so, they might end up shunned to the side by Netflix, a media giant that is growing by the day.