Netflix : A Successful Company

1058 WordsDec 7, 20165 Pages
INTRODUCTION Netflix is a highly successful company. The $47 billion company started out in 1997 by having DVDs delivered to your house to having the content accessible anywhere online with Wi-Fi. The company not only makes the shows accessible to you, but it also creates and produces original shows. Who is behind this successful story? Reed Hastings, the founder of Netflix, first thought of Netflix whenever he received a $40 late fee from Blockbuster. With Marc Randolph, they cofounded this greatly successful business (Loudenback). HISTORY Three years after founding Netflix, Hastings attempted to sell a large percentage of his company to the business that inspired him to create the company in the first place, Blockbuster. He suggested Netflix would be the online portion while Blockbuster would remain as the rental portion of the company. The idea was brilliant, in my opinion. However, Blockbuster did not accept the offer. Determined, Hastings went to build his company stronger (Loudenback). In 2005 all the promoting and advertising paid off when Netflix had over 4.5 million streaming shows, movies and documentaries. Netflix outdid Blockbuster’s attempts to stream online. Hasting’s company did not just stop there. It continued growing until they eventually had shows exclusively on Netflix. Those original shows have even won several Emmys. House of Cards, for example, has won a total of 13 awards and has been nominated for over 50! In 2010 Netflix had almost four times
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