Netflix has changed the entertainment industry and is one of the fastest growing entertainment providers in recent history. The streaming platform has become synonymous with entertainment and our society has developed a dependency on the popular streaming service that allows unfettered access to on-demand entertainment.
Now, we can watch whatever we want, when want, as many times as we want. The company is largely responsible for changing the way the world consumes entertainment, and much like a casino online altered the way we gamble, Netflix has opened up a world of digital entertainment that was previously unexplored. With its ever-growing presence in our daily lives, what do we really know about the streaming giant?
Below is a list of interesting facts that you might not have known about Netflix.
- The American entertainment company was founded by Reed Hastings and Marc Randolph on August 29, 1997, in Scotts Valley California.
- Netflix is the 10th largest Internet company by revenue in the world.
- The streaming giant reported a record-breaking fourth quarter in 2017, growing its revenue by 36% to over $11.6 billion.
- Showing no signs of slowing down, Netflix predicts it will spend $8 billion on entertainment in 2018.
- During 2018, the company plans to release 80 films on the platform.
- According to a statement released by Netflix, its members watched a total of 140 million hours of on-demand video content per day in 2017. That equates to about 1 billion hours per week.
- The most popular day to “Netflix and chill” was January 1st It seems that there’s no better way to start the New Year than by binge-watching your favourite shows.
- Netflix is the largest contributor to Internet traffic. In 2015, Netflix’s combined bandwidth traffic accounted for 36.5% of peak traffic in North America. To put this in perspective, the company’s two main competitors, Amazon and Hulu, only accounted for less than 2% of traffic.
- In 2000, Netflix CEO Reed Hastings offered to sell a 49% stake in the company to Blockbuster. The aim was to align Netflix with the now virtually dead video rental company, take the name blockbuster.com and become their online service. Hastings offer was declined by Blockbuster and the rest is history.
- Netflix cemented its global domination in January 2016 when it added 130 new countries. Today, Netflix is available in more than 190 countries and territories around the world. The service has even reached the most extreme location on the planet, Antarctica, where one subscriber binged watched the US series, Shameless.
- Mexico is the country with the most amount of subscribers who watch Netflix daily.
- As of the first quarter of 2018, Netflix had 125 million streaming subscribers worldwide.
- 71 million Netflix subscribers come from the United States.
- The United States has access to more titles than any other country. Of Netflix’s 13,500+ titles, just under 40% are available in its US catalogue.
- The most promising market identified by the streaming service is South America.
- It is projected that by 2020, 24.4 million subscribers will be located in Brazil alone.
- Mexico, Germany, Canada, Brazil and the United Kingdom are some of the company’s most important markets.
- In 2017, the average Netflix subscriber watched an average of 60 movies on the streaming platform.
- Due to the streaming platform’s overwhelming popularity, television ratings and movie attendance have dropped.
- In response to Netflix’s near-absolute domination of the entertainment industry, competitors such as Amazon, Hulu, YouTube and broadcast corporations are positioning themselves to offer their users streaming abilities on separate websites.
- According to 2016 data, about 70% of Netflix subscribers’ binge-watch shows.
- In 2017, one subscriber watched Pirates of the Caribbean: The Curse of the Black Pearl for 365 days in a row.
It’s easy to see that Netflix is a real game changer, and it has changed the face of entertainment forever. It will be interesting to see what the future holds for this streaming giant, and where the next few years take viewers.