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One of the most striking modern economic trends is an increase in the market share of companies providing online services. These include mobile applications, websites, and, in particular, platforms that create media content like Netflix. The company’s position in this situation is extremely positive, as people tend to spend more time watching TV shows and movies at home. The main competencies of Netflix are the creation of high-quality products of great interest to the public. Mandal et al. (2017) state that the goal of the company “is to build a portfolio of movies which will attract and retain viewers and optimize the cost of licensing these movies in relation to the number of subscribers who watch them” (p. 155). Thanks to this, the company is the most influential player in the market and can cope with any competition.
There is also a trend towards increasing demand for educational products. The more opportunities there are for obtaining information, the more interesting it is for people to learn something new. Palvia et al. (2018) state that “As information and communication technologies have kept advancing, online education has become more feasible technologically, economically, and operationally” (p. 233). Netflix is also trying to develop in this area, for instance, by creating science-related movies. Since they are in demand, their ratings are considerably high, which allows the company to compete with many educational platforms. In addition, this generally has a positive effect on society.
The strategic development of Netflix is aimed primarily at meeting the needs of the audience. The organization creates the content that is most suitable for viewers and thus forces them to return to the platform to view something new. This strategy is sustainable because it is based on changes in the world and can adapt to them. This has already led Netflix to active development and, undoubtedly, contributes to further growth.
References
Mandal, G., Diroma, F., & Jain, R. (2017). Netflix: An in-depth study of their proactive & adaptive strategies to drive growth and deal with issues of net-neutrality & digital equity. IRA International Journal of Management & Social Sciences, 8(2), 152-161.
Palvia, S., Aeron, P., Gupta, P., Mahapatra, D., Parida, R., Rosner, R., & Sindhi, S. (2018). Online education: Worldwide status, challenges, trends, and implications. Journal of Global Information Technology Management, 21(4), 233-241.
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