Netflix is a giant in content streaming and a leader in bringing new and original content to the world. Currently valued at $99.45 billion, Netflix is the pioneer in the content streaming field. With its huge library of movies and shows, the service has become a go-to for those who wish to enjoy quality entertainment.
In case you’ve overlooked streaming giant Netflix, it’s a good idea to take a peek at what it has to offer. Netflix is the world’s leading provider of online streaming movies and TV shows.
With over 50 million users in over 190 countries, it’s no surprise that Netflix has vastly increased global awareness regarding its services. In this post, I share Netflix’s Brand Positioning.
Background Of Netflix
Netflix is an American entertainment company that provides on-demand streaming media and DVDs by mail. The service was created in 1997 and is headquartered in Los Gatos, California.
Netflix has become a worldwide phenomenon with over 118 million subscribers as of 2018. Let’s take a look at the history of Netflix to see how it got its reputation for being one of the most binge-watching websites out there!
Netflix (originally called “NFLX”) was founded on August 29, 1997, by Reed Hastings and Marc Randolph as an Internet-based DVD rental service for consumers who don’t want to spend their time at a video store browsing through titles or waiting in line.
Reed and Marc were two men who had gotten tired of waiting in line at Blockbuster to rent videos. These two were also friends with Mitch Lowe who was the founder of Redbox, and they decided to start their own company that would offer consumers a way to rent movies online instead of going to a store.
The idea was that if Blockbuster didn’t offer something similar, consumers would go to Netflix which would help grow the DVD rental business. The name “Netflix” was derived from the words “Next Level”, which is what Reed wanted the company’s website to be for consumers.
What Is Brand Positioning?
Brand positioning is a marketer’s deliberate strategy to provide a unique position for their brand in the mind of the consumer. It is an important part of every marketing and branding campaign, and it has a profound impact on how consumers relate to your brand.
A brand’s positioning is the target market, customer benefits, and how the marketer wants that target market to perceive its brand. This affects the selection of communication channels, promotion mix and distribution channels. The positioning offers a way for marketers to develop a strategic view of how they want their target markets to perceive their brand and what effect they want it to have on those customers.
Netflix’s Brand Positioning
Netflix offers a wide variety of popular movies and television shows, as well as original content. Not surprisingly, it requires huge capital to maintain the services and operate smoothly. To generate enough funds for the business, Netflix launched its brand positioning in the market focusing on maintaining customer retention by continually developing programs with more variants for customers’ satisfaction.
Netflix is a great representation of a company which went through the advanced digitalization change effectively.
Netflix moved from being a film rental assistance sending individuals DVDs in envelopes to turning into the main player on the VOD market.
Presently, Netflix isn’t simply the greatest video real time feature yet additionally perhaps the main substance maker. It characterizes itself as the world’s driving web-based entertainment provider.
Despite the progressions in the business procedure, Netflix’s centre suggestion has been pretty much no different for a really long time – it is about “Movie Enjoyment Made Easy”.
All that Netflix does, requirements to add to both higher commitment of the clients (which suggests centre around extraordinary substance yet additionally utilization of modern algorithms helping individuals with observing the titles that they are probably going to appreciate) and comfort of purpose (Netflix’s UX and multi-gadget accessibility being continually gotten to the next level).
More recently, the company has described its aim as “connecting people with stories” and started highlighting the significance stories play in people’s lives.
“Stories move us. They make us feel more emotion, see new perspectives, and bring us closer to each other.”
So when are you going to watch a new movie or interesting web series on Netflix?
If you have something interesting to add, comment below I would be happy to know them. Also, tag me on Instagram @wadajkaryash the next time you watch the series on Netflix.