The internet has become the most influential medium as it took less time to reach to the maximum mass. There are plethora of internet based services which have revolutionized the world such as search engines, emails, blogs, social media and so many of them. The day where we are standing today, would have not been the same, had these services were not made available.
On that note, let’s embrace ourselves which one such portal which has been constantly entertaining us for many years. It’s Netflix, which I am talking about. Well, as a matter of fact, Netflix is there even before Google. Quite astonishing, isn’t it! Netflix was founded in 1997, whereas Google was in 1998.
The idea of making an online movies and TV shows provider and rental DVD portal came to Reed Hastings’ mind, as he made to pay $40 as overdue fines for Apollo 13’s VHS copy. What an approach to life, we got to admit that. One’s suffering should be lesson for another is the philosophy he must have thought about. Well there are numerous untold stories like this, which will leave you amazed by the end of the article.
Initially Netflix was providing DVDs through traditional pay-per-rental model. After two years, in 1999 they launched digital distribution of movies and TV programs. By that time they have established their selves as an excellent entertainment provider company which led to a successful IPO in 2002.
Back in 2000 Netflix made an offer to Blockbuster for acquisition for $50 million which they turned down. The video rental company turned down the offer and today Netflix is valued as a $20 billion worth company.
The movie and TV show streaming company enjoys 60 million subscribers globally with $5.5 billion yearly revenue. Recommendation algorithm is a matter of concern for every online portal, so does for Netflix. To mitigate that, in 2006 they held a million dollar contest to get the loop of best recommendation algorithm.
To enhance the recommendation of titles they spend $150 million, as the research shows that, a viewer takes only two minutes of browsing before deciding the title. Every penny is worth spent to intensify the services, since Netflix’s dominance is not restricted to the internet at all. It surpassed cable TV in terms of rating. ‘House of Cards’ a Netflix original series won the Emmy award for outstanding directing, which made Netflix the one and only online movies and TV shows streaming company to earn such a great honor.
Having known some incredible fact, it becomes utmost important as to why should opt for the application of Netflix? The application like Netflix is the stupendous blend of portability and entertainment, which allows you to watch the series or movies at desired time and place. No boundaries of schedule and place which just eliminates the term ‘Missed Episode’ completely. Highly personalized title recommendation and out-of-the-world user interface makes the application a top of the priority list.
A commercial free movie or TV show along with binge-watching mode, which provides all the episodes of a series incessantly in a row, together all these, take the viewing experience to another level. Since it is accessible from multiple devices running on iOS as well as Android platform, the world of entertainment is just a few clicks away. The approximate cost of developing an app like Netflix is around $10,000 to $25,000 per platform. You can develop the best app like Netflix that can help you to attract more and more users from Hyperlink InfoSystem. Contact us for more inquiry!