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Netflix Corporation is a Fortune 500 company. I would have never thought several years ago when I subscribed for my first subscription that this company would make the list. I made that assumption based on the prices in comparison to cable prices, and I was wrong.
Netflix was founded in 1997 in Scotts Valley, California by Marc Randolph and Reed Hastings. Hasting had the idea of creating a streaming service when he incurred a late fee after returning a block buster movie late and paying a $40.00 late charge, by 1999, Netflix had started a subscription service by offering unlimited DVD rentals for a low monthly price (Blair T., 2019). Around the time of 2000 through 2005, Netflix began to improve more and more coming out with a personalized movie recommendation that allowed the viewers to pick what they were interested in. This caused the numbers of users increasing to approximately 4.2 million customers (Blair T., 2019). Years later, Netflix came out with their new streaming service. This streaming service allowed members to use Netflix on all personal devices making it easier to watch on the go or if you were just sitting at home. Additionally, they opened Netflix to different countries outside of the United States making this product successful globally.
Netflix is a program the intrigues the watcher to continue watching by providing the whole series at once. “If a show fails to woo us on episode one, the next episode is a mere 15 seconds away from starting. Why not give the benefit of the doubt?” (Sharma R., 2016). Netflix does this as a way of getting their views up and making the viewer want to come back to their site. I selected this company because now everybody is starting to use Netflix or has used Netflix for a couple years now cancelling their cable subscriptions due to the convenient prices. Netflix is a product that is not only high in demand for children and young adults, but many elders use Netflix to stream T.V shows and movies.
As many companies has a mission, Netflix’s mission statement is not published. Although, Netflix does have a brand promise, which explains that throughout the company they have agreed on the growth, exceptional service, and for their employees to have a huge impact (Blair T., 2019). Furthermore, Netflix also published its company values that which includes judgement, productivity, creativity, intelligence, honesty, communication, selflessness, reliability, and passion. These factors all contribute into a healthy and successful company that allows the consumers to be satisfied with the product making Netflix high in demand because more people want to use the program due to the exceptional service.
On the other hand, every company has a vision, and Netflix’s vision is to provide a at home movie service that easy to access rather than the rental complications that were installed before, such as Redbox, and Blockbuster (Shih, W., 2009). The vision the corporation aspires to have is to have the best global entertainment service, that has excellent content throughout the world. They also want to make the market easy and accessible to filmmakers.
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