Netflix Is A Leading Internet Entertainment Subscription Service

1171 Words Jun 26th, 2016 null Page
Netflix is a leading internet entertainment subscription service. Netflix’s subscription service allows members to access a multitude of television shows and movies for a set monthly price. Netflix has been extremely successful in accurately predicting the changes in the video and movie marketplace. They used the name Netflix with the expectation that movies would move from DVD to online streaming rather rapidly (Cohan, 2013). In 2007, with 6.3 million registered members they began offering online streaming, today they boast 74 million subscribers in over 50 countries (See what’s next, n.d.). As new technologies and services emerge it will become increasingly difficult for Netflix to retain a dominant share of the marketplace. Other streaming services have made significant inroads already. Competition has risen significantly in the past few years. Companies such as, Amazon Prime have experienced significant and impressive growth. Even Walmart has entered the internet streaming market to share in this growing method of convenient movie watching. DirecTV, Time Warner, DISH Network, AT&T, and Verizon are all companies that have created more competition in the market by utilizing existing or newer technology (Parnell, 2014). In order for Netflix to remain competitive in the future a key element will be maintaining their customer base. Netflix has a strong, fairly loyal customer base. Maintaining high customer satisfaction is crucial at this point.

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