Netflix completely revamped the television industry and paved the way for a variety of other streaming services. Read more about the trendsetter company in our article.
How Netflix Revamped Television
It’s no secret that Netflix has changed the TV industry forever. In fact, television has gone through quite an evolution over the last three decades. People used to rely on cable to meet all their entertainment needs, as they could indulge in their favorite sitcoms, sports, news stations, and even movies. Eventually other options came into play such as Blockbuster and Redbox Rentals. In 1997, Netflix was launched and it changed the game for good, allowing you to rent movies through the mail and then eventually stream shows and movies from the comfort of your own home. Now, Netflix has paved the way for a variety of other streaming services which has further innovated the way we watch television, movies, and the likes, forever.
What is Netflix?
Netflix is a universal well-known streaming service that offers a wide array of TV shows, series, movies, and original content. Service is accessible on smart TVs, streaming devices, smartphones, and tablets that use either iOS or Android. Netflix currently has 207.6 million subscribers worldwide.
How Netflix Changed the TV Industry
Netflix is often celebrated for establishing creative, innovative current that efficiently analyzes their user base to ensure their serving their customers as best as they can. Their service allows people to consume content the way they want to, which in turn has forced the cable companies to adapt their business strategies.
Netflix is quite the powerhouse now, but it didn’t initially start that way. In fact, Netflix came from rather humble beginnings. They launched their website in 1997 which enabled people to rent DVDs online, then receive and return them via the mail.
Netflix has always competed with cable companies but their true competition was brick-and-mortar video stores like Blockbuster and Hollywood Video at that time. Now, the competition has transitioned to predominantly other cable providers, as well as other popular streaming services.
How Netflix Impacted Entertainment
Netflix has paved the way for various other streaming services to come into existence such as HBO Max, Paramount Plus, Disney Plus, ESPN Plus, Amazon Prime Video, and the list goes on. These accessible streaming services have led people to question whether it’s worth having cable at all. Though these all do offer a wide variety of content, they can’t necessarily replace cable but they certainly can supplement it. Why? Because many live programs can’t be viewed through Netflix or other streaming services on the market.
The Transition to Streaming
Prior to 2007, computers weren’t advanced enough and Internet speeds were not fast enough for streaming services to succeed. 2007 was the year that Netflix launched their streaming service.
This innovation was huge because it was the first time that customers could tune into their favorite shows and movies on a television set, computer, tablet, phone, or gaming device. Furthermore, customers now have the option to watch whatever they wanted, whenever, however. They didn’t have to adjust their schedules to catch their favorite programs or sit through commercials that they had no interest in. Since this innovation proved to be so positively life-altering, cable companies and TV networks soon followed their lead.
The Establishment of Original Content and Binge-Watching
Netflix took a huge risk in 2013 when they started offering original content to their user base. They went against the grain, offering contracts to series producers for one or two seasons when most networks generally only approved the budget for a pilot episode and analyzed whether it hit certain metrics prior to committing to one season or more.
Fortunately, some of the most world-renowned series came from Netflix including “House of Cards,” “Orange is the New Black”, and “The Crown.” Since Netflix has gained a loyal fan base, they’ve gained a lot of popularity, success, and appreciation of their stocks.
As far as binge-watching is concerned, this term itself was coined by avid Netflix-watchers who got into the habit of indulging in several episodes, or even full seasons, in a short period of time. Netflix made this possible by launching an entire series of a show at one time as opposed to releasing one episode per week the way that many cable channels chose to.
Given the flexibility and variation in Netflix’s offerings, it’s safe to say that $8.99 per month is pretty good bang for its buck. This price is for their basic plan, but you can upgrade to $13.99 per month for the Standard package and $17.99 per month for Premium which includes Ultra HD.
As we mentioned earlier, we do not believe this can adequately replace Cable due to the large number of programs, news stations, and live content that is not accessible through Netflix and other streaming services. Still, it’s a worthwhile investment to add it to your home to compliment your television cable package.