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The Founding year
The founder of the online video streaming Netflix are Reed Hastings and Marc Randolph. The original plan was to rent DVD’s via mail. They did a trial by sending DVD’s to their own places, everything was delivered accordingly with no issues. Challenges: The competing video retail was well established already, Blockbuster was the most popular and undefeated retail of the video rental industry at the time and has it's 2,800 location around the globe. -
Customized Online Account
The online profile features was launched, it lets members make a different type of list, for multiple users/ different ambivalence. This feature captivated the attention of many American internet users. Challenges: Netflix revises their terms of use after San Francisco subscriber filed a lawsuit stating that the company over compromised its one day delivery to most DVDs, which resulted to 4 percent of customers who cancelled their service three months before year end. -
The First Online Streaming
Netflix expands its business online and introduces the online streaming, the membership price by that time was $7.00 monthly. This lets members watch episode shows and movies instantaneously. Challenges: Some Customers are not excited of the online streaming because of multiple reasons such as pricing on streaming and dvd rentals are a bit overpriced, technical issues while streaming movies, and the selection of movies are not as many compared to actual rentals. -
Remote Control- Added Button
Milestone: Netflix made its impact to Latin Americans and the Caribbean. The “Netflix” button was added on remote controls. Challenges: Netflix loses over 800,000 subscribers after announcing that they will charge separately for dvd rentals and online streaming. -
Going Global
Milestone: Netflix become distended to 130 new countries and streaming in total to 190 countries, with 21 languages around the globe. With its new added feature of downloading and watching it offline. Challenges: Despite of its growth globally, Netflix experienced a slow growth rate in the US compared to what to their target rate of growth. -
First Emmy Award
Milestone: Netflix marks its 100 million membership across the globe. Netflix won its first Emmy award for the documentary titled “The white helmets”. Challenges: Over the years Netflix was known to produce original series that are binge worthy but the expectation had declined because customers are not satisfied to most of the series netflix are releasing. -
Peak of the Pandemic
Milestone: Netflix becomes the most nominated at the Academy awards and Emmys, which gives an idea for Netflix to add a feature of top 10 lists debut, to help members see the popular shows and movies.
Challenges: During the pandemic, Netflix experienced a tight competition with other online streaming platforms such as Disney plus, Hulu, and peacock.