Magazines entrepreneur netflix

TECHNOLOGY ENTREPRENEUR

Technology entrepreneur

of netflix

by: Reed Hastings,
Marc Randolph

The
Author

MY NAME IS MAZ AIFA BINTI MAT UDE. I WAS BORN IN HKL
KUALA LUMPUR. I STUDIED AT EPITOME COLLEGE IN SUBANG
JAYA. I MAJORED IN BUSINESS ADMINISTRATION DIPLOMA. I
AM ALREADY IN THE 5TH SEMESTER OF THIS YEAR. ONE OF
THE LESSONS I TOOK THIS SEMESTER WAS INNOVATION
MANAGEMENT (DBA2153) WHICH WAS TAUGHT BY MRS.
AEZAN ASYRAFI BINTI HAPIZ. I WAS REQUIRED TO DO AN
ASSIGNMENT WHICH WAS TO MAKE A MAGAZINE ABOUT
TECHNOLOGY ENTREPRENEURS WHO CHANGE A
TECHNOLOGY TO A MORE SOPHISTICATED TECHNOLOGY.

TECHNOLOGY ENTREPRENEUR

ABOUT THE
ENTREPRENEUR

NETFLIX

Reed Hastings and Marc Randolph established Netflix in 1997 in
Scotts Valley, a small town in the Santa Cruz county of California.
According to Reed Hastings, the $40 fee he received for renting
the movie Apollo 13 from a long-gone Blockbuster and returning it
six weeks late provided the inspiration for the idea. The pain of the
fine motivated him to come up with a service that allowed people
to order movies online and receive them by mail while he was
exercising at the gym.

However, Marc Randolph claims that this tale is untrue and was
only a joke. In contrast, Reed was Pure Atria's CEO in the early part
of 1997, while Marc served as the organization's vice president of
corporate marketing.Marc claims Reed told him, "Let's come up
with an idea, you can manage it and I'll fund it," in order to save
them both from losing their jobs as a result of an impending
merger with another company.

Marc, who wanted to create a company similar to Amazon.com,
pitched Reed a variety of e-commerce concepts while they
commuted by carpool from their homes in Santa Cruz to Silicon
Valley every day. These ideas included surfboards, custom-made
baseball bats, personalised dog food, and shampoo that could be
delivered to customers' homes. Reed just said, "That won't work,"
in response to each of them.

TECHNOLOGY ENTREPRENEUR

ABOUT THE
NETFLIX

At 1997, Reed Hastings and Marc Randolph come
up with the notion of renting DVDs by mail. By
sending oneself a DVD, they try out the idea. The
DVD comes undamaged, and the concept of
Netflix is created.

At 1998, Netflix.com, the first DVD rental
and sales site, is launched.

At 1999,The Netflix subscription service
debuts, offering members unlimited DVD
rentals without due dates, late fees, or
monthly rental limits.

At 2000, a personalized movie recommendation system is
introduced, using members’ ratings on past titles to accurately
predict future choices.
At 2002, Netflix makes initial public offering (IPO), at a selling price
of $1 a share under the NASDAQ ticker NFLX.
At 2003, Netflix is issued a patent by the U.S. Patent & Trademark
Office to cover its subscription rental services as membership
surpasses 1 million.

At 2005, the Profiles feature launches,
it allowing members to create different
lists for different users and/or different
moods.

At 2006, membership grows to 5
million.

At 2007, Netflix streaming is introduced, allowing members to
instantly watch series and films.

At 2008, Netflix partners with
consumer electronics brands to allow
streaming on Xbox 360, Blu-ray
players and TV set-top boxes.

After nearly three years (2009) and 40,000 entries, the $1 million Netflix
Prize is granted to the team Bellkor's Pragmatic Chaos for boosting
recommendation accuracy by 10%. With a membership of over 10
million, streaming partnerships are now available on internet-connected
TVs. The Netflix Culture Deck is now available.

At 2016, Netflix expands to 130 new
countries, bringing the service to
members in more than 190 countries
and 21 languages around the world.
The Download feature is added for
offline and on-the-go viewing.

Top 10 lists debut, allowing members to
see what’s popular for the first time. Netflix
is the most-nominated studio at the
Academy Awards and Emmys. The
Hardship Fund launches to aid creative
community workers impacted by COVID-19,
and two percent of our cash holdings move
to financial institutions supporting Black
communities.

August marks the 25th anniversary of
Netflix. Netflix Is a Joke: The Festival,
Netflix’s biggest live, in-person event
took place in Los Angeles, spanning
11 days and 295 shows. Netflix rolls
out spatial audio to bring the
cinematic experience to any device
and adds Category Hubs for TV.

TECHNOLOGY ENTREPRENEUR

LIST PRODUCT OF
NETFLIX

The company offers TV shows and movies such as
original series, documentaries, and feature films
through an internet subscription on the TV, computer,
and mobile devices. It offers DVDs by-mail service in
the US.

1.TV SHOWS

These days, the small screen has some very big things to offer.
From sitcoms to dramas to travel and talk shows, these are all the
best programs on TV.

2. MOVIES

A) ORIGINAL SERIES
B) DOCUMENTERIS

C) FEATURES FILMS

TECHNOLOGY ENTREPRENEUR

THE PRODUCT
NATURE OF
NETFLIX

STREAMING ENTERTAINMENT
SERVICE COMPANY

Streaming entertainment provider Netflix, Inc. is in business. The
company offers a subscription service that includes streaming
movies and television programmes over the Internet as well as
mailing DVDs. It operates in three business segments: domestic
streaming, international streaming, and domestic DVD. Revenues
from monthly membership fees for services that stream material
to their customers in the United States are what fund the
domestic streaming segment. The International Streaming
category comprises subscription fees from members outside of
the United States. The Domestic DVD sector includes revenue
from services that include DVD-by-mail.

On hundreds of internet-connected devices, Netflix is a
streaming service that provides a huge selection of honourable
TV episodes, films, animation, documentaries, and more. You
may watch as much as you want, whenever you want, for one
cheap monthly fee.

TECHNOLOGY ENTREPRENEUR

IMPACT OF
NETFLIX TOWARD
THE COMMUNITY

THE IMPACT

People rationalise spending time in the evening in front of a
television or computer for a variety of reasons. Many people want
to unwind after a demanding day at work or simply slow down for
the evening. Everyday households with a Netflix subscription can
relax in front of the television, start watching a show, and forget
about the outside world. But all of a sudden, hours and hours have
passed, and the family's single episode of television has
multiplied into several episodes. The "Netflix Effect" refers to the
problem of people losing track of time while viewing series
television shows. Some people discover that they can't just watch
one episode of a show because they have to see what happens
next. Then viewers realise they can't stop after only one season of
a show since they were left hanging and want to know what
happens next. After spending hours in front of a television or
computer, some households are now questioning whether
watching Netflix is truly a great way to reduce stress or if it is
actually eating up the majority of their free time.

The "Netflix Effect" is reportedly having an effect on adults,
children, and even teenagers. Teens who binge watch television
have a number of negative consequences, such as falling behind
in their academics, arriving late for appointments or classes,
gaining weight from staying inside and not getting enough
exercise, and cutting off their social circles. I can give you a real
example from the adult world where my boss was late to work
because he and his wife were engrossed in the second season of
the Netflix series Stranger Things Chapter 2. When I was living in
Germany, one of my closest friends struggled to get his three-
year-old daughter to do anything besides watch her favourite
cartoon that was streaming on Netflix.These are just a few
examples of how ordinary households are not immune to the
"Netflix Effect."

TECHNOLOGY ENTREPRENEUR

CHALLENGES OF
THE NETFLIX

Throughout the first half of 2022,

Netflix has had numerous

difficulties.

For example, according to

Netflix's April financial report, the

firm lost 200,000 customers, its

first decline in almost a decade.

The company's worth dropped

35% essentially overnight as a The fierce rivalry from other
movie streaming firms like
result of the revelation. Amazon.com, which permit
users to stream movies for free,
Additionally, Netflix fired is one of the major difficulties
that the Netflix organisation must
hundreds of workers this year, deal with. Amazon "intensifies
competition with Netflix by
charging a $70 million charge for allowing its prime members to
access videos at no additional
severance fees. Another $80 cost," claims (). The two
businesses compete to be the
million non-cash impairment leading providers of movies and
TV shows on the internet. The
charge aims to compensate promotion of technology that is
user-friendly and makes
costs incurred modifying its real streaming services accessible
easily is a second hurdle for
estate leasing arrangements Netflix. The corporation
encounters this difficulty as it
during the restructuring process. gets into agreements with
television manufacturers to
These adjustments come as include software that can
provide users access to
Netflix deals with a slew of streaming services. The Netflix
company's aggressive efforts to
unfavourable macroeconomic produce original programmes
represent the third challenge.
dynamics, such as escalating

inflation and recession

speculating.

With companies like HBO Max,

Disney+, and Apple TV+ heavily

investing in their own services,

competition is also intensifying.

Additionally, Netflix is still more

expensive than comparable

services, which means it might be

the first to go when customers

cut their spending.

TECHNOLOGY ENTREPRENEUR

CONCLUSION AND
RECOMMENDATION

CONCLUSION

Netflix is the US leader in online video streaming. It's focus on customer
satisfaction, device ubiquity, and dedication to excellent service has
cemented the company as being on the consumer's side.

As online streaming matures, Netflix will have to find ways to reach
broader audiences with better and more content while continually being
more innovative than its competitors. In this, Netflix has a robust an
streamlined distribution process and is making great headway in its
content acquisition and licensing.

RECOMMENDATION

PREPARE FPR ISP THREATS

Although they are fighting to protect net neutrality rules and prevent
broadband distributors from blocking their service, Netflix must
prepare their budget for futher expenses. By marketing and
continuing to grow their online streaming service instead of DVDs the
financial pressure of shipping could be transferred to what would
become "online shipping".

They should take advantage of their leading role in the market today
to continue to educate their subcribers and possible future
subscribers about online streaming, the growth of this are mixed with
less disc-by-mail shipping can fend off rising distribution costs.

TECHNOLOGY ENTREPRENEUR

THANK YOU !