The rise and fall of Netflix

With more subscribers than any competing platform, thousands of shows, and production centers in cities around the world, Netflix has dominated streaming for years.

But the US company’s share price “slumped” after announcing this week that it lost 200,000 subscribers worldwide in its most recent fiscal quarter and expects it to lose millions more over the next three months, he said The guard.

The news has “unleashed a spate of countermeasures,” with some questioning the company’s future profitability.

Netflix launched in the US in 1998, but it wasn’t until 2007 that the company “had an idea that would change the way we watch everything,” he said quartz. Streaming would allow Netflix to evolve from an online DVD rental business rivaling Blockbuster to an on-demand entertainment service for American audiences.

“The impending death of the company” had been predicted several times in previous years, but streaming should give Netflix “a foothold in the embryonic world of internet movie distribution,” it said The New York Times.

Its territories grew rapidly, with Canada, Latin America and the Caribbean getting Netflix in 2010. Britain had to wait until 2012 – and when the platform finally arrived, the company was expected to face “tough” competition from rivals Lovefilm and Sky Films, the said BBC.

But Netflix was confident of winning over UK audiences. CEO Reed Hastings told the channel, “We have different differentiators compared to each of our competitors, but Netflix is ​​very focused on streaming and we’re doing it really well.”

Within weeks of launch, UK performance had “exceeded expectations with faster subscriber growth than the company had seen in the broadly comparable Canadian market when it launched,” it said The guard.

The company began creating original content featuring US political drama in 2010 house of cards was among the first of his productions to be broadcast in 2013. “If Netflix wanted to come out of the gates as a strong content provider worthy of any cable channel, it made an excellent choice,” he said Hollywood reporter.

The company’s investment in ratings data and its algorithm also meant that while other studios were testing pilot episodes, Netflix “already knew” the show would be popular “and immediately signed up for two seasons,” it said business models inc. This realization has led to the service being able to keep viewers hooked with a seemingly endless supply of content tailored to their tastes.

This week, season two of Bridgeton “settled its battle for supremacy” with season one to become the most-watched English-language show in its first 28 days, said indie wire. Octopus Game holds “the overall championship record” with 1.65 billion hours of the show streamed in the first four weeks of its release. “The width of Squid GameThe popularity of is truly amazing,” Netflix said.

stranger things, The crown and Better call Saul have also helped solidify the streaming platform’s success over the years, as have award-winning films, including The power of the dog, Ma Rainey’s black butt and Don’t look up. An Oscar win for Roma Director Alfonso Cuarón in 2019 “was a turning point in the streaming industry’s dominance over the world of entertainment,” he said The Telegraph.

However, the company is now in “deep difficulties” for “fear of further suffering,” according to the newspaper. Many viewers access the platform for free using other people’s account details, and some have said the subscription is too expensive as they face mounting household bills.

“Can Netflix escape its own blockbuster moment?” the paper said. “As [CEO Reed] Hastings progress is Netflix’s biggest challenge yet.”