Netflix Is An International Provider Of Television Series

1571 WordsApr 7, 20167 Pages
INTRODUCTION Netflix is an international provider of television series, cartoons, and movies. It was founded by Reed Hastings and Marc Randolph on August 29, 1997. It has its headquarters in Los Gatos, California. Seventy-five million people are subscribed to Netflix, and forty-four million of the subscribers are from the United States of America (Lieberman). Netflix was recently launched in one hundred and thirty countries such as the United Arab Emirates (UAE) and Saudi Arabia. Subscribers sign up to enjoy the various television shows and movies for a monthly fee of eight dollars (Fakhruddin). The cultural barrier, coupled with the competition in the Middle East, poses a significant challenge to Netflix; however, through critically analyzed strategies, Netflix can overcome the challenges. NETFLIX’S LAUNCH IN THE MIDDLE EAST On January 9, 2016, Netflix launched its services in the Middle East. The company achieved the goal that made it the best television service provider in the world. Reed Hastings announced that the company had ten percent increase in profits. There were several lessons learnt during the launch of Netflix that will be discussed below: First Lesson. Mr. Reed Hastings announced that Netflix had established itself in more than one hundred countries. Surprisingly, Netflix announced that it would not expand into China despite the country having the largest population. Therefore, business experts suggest that the government should remove the barriers that
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