As a part of my research, I looked into the user base that Netflix has globally for some facts and statistics on how consumers use the product and found some surveys on how Netflix users feel about the company.
Netflix started as a DVD rental service in 1997 and just a few years after, began the subscription based business model where subscribers could rent as many DVD’s as they wanted without an extra costs involved. During the same time, Netflix also introduced their first algorithm based on user ratings to promote titles to other subscribers.
From having just 300,000 users at the start of the century, Netflix grew very quickly to having 4.2 million just five years later.
The following years brought about partnerships with companies that allowed Netflix to be accessed in a number of ways as the business moved to online streaming. In 2010, Netflix officially started streaming from ps3, xbox260 and apple devices as well as launching in Canada.
So far, in the first quarter of 2021, Netflix has a total of 207.64 million users worldwide with the majority of this number (74 million) consisting of people based in the United States and Canada with Scandinavia following being. During the same time, Netflix generated a revenue of over7.16 billion dollars with the total amount for the entire year of 2020 being 25 billion.
Netflix original shows are one of the top reasons people choose to subscribe to the streaming giant, according to a recent survey. Netflix is considered a heavyweight producer of its original series and this started with Orange is the New Black in 2013. In recent years, Netflix have also been behind some of the most highly-acclaimed movies and in 2020 received more nominations than any other film studio as the Oscars.
Some statistics based on users:
1. 96% of UK subscribers intend to renew their subscription.
2. The Coronavirus pandemic saw a Netflix receive 61% rise in TV streaming, with an average of 3.5 hours spent streaming a day.