The popularity of Netflix is becoming relentless especially among the modern youth. Nowadays, it is prevalent among millennials and college students to use the streaming service as an affordable and comfortable entertainment source.
Senior math education student, Amy Moore, of Florida A&M University remarked that she learned about Netflix through word-of-mouth.
She said that the video entertainment service is very popular among college students. Moore affirmed that Netflix helps her de-stress from the everyday pressures of college life.
Senior elementary education major Avery Bryant, also from Florida A&M, remarked that Netflix is the best streaming service option because it is cost-effective and offers plenty of content. Plus, it is entertaining and commercial-free.
The start of Netflix can be accounted way back in 1997 when its founders, Reed Hastings and Marc Randolph, established the online film rental firm. By the start of the new millennium, they put into effect a rating technique to evaluate specialized films and genres that subscribers liked.
The population of Netflix subscribers ballooned to 4.5 million by 2005. Five years later, massive numbers of digital platforms started to offer the service. Furthermore, it expanded to Canada.
In 2016, the streaming service juggernaut was crowned as the renowned global streaming provider.
However, Netflix has its downsides which consumers may cringe with. These include the latest price hike and an extra charge of $2.99 in all subscription plans, the unsteady dropping and adding of titles, and the limitations on new content for the Netflix original series.
In spite of this adversity, Netflix has made itself future-proof by prioritizing advanced technology. It has signaled indifference towards traditional video rental offerings like cable services and Blockbuster.
With a wide array of content, Netflix is gradually supplanting pay TV. The latter may allow rewinding, fast-forwarding, and recording videos, but it is not portable. In addition, set-top boxes still need to avail of this service, and it is more expensive as compared to Netflix.
Netflix has a horde of streaming competitors such as Amazon Prime and Hulu. However, it continues to lead with its original programs, documentaries, foreign movies, American movies, classic sitcoms and films, and religious shows.
As of July 2018, the company’s worldwide streaming subscriber population has crossed the 130-million mark, making it the leading streaming service provider. In 2017, Netflix’s annual revenue amounted to $11.69 billion.