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3 pages/β‰ˆ825 words
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APA
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Literature & Language
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English (U.S.)
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Current Strategy of Netflix and How the Company Will Become Dominant in the Future

Essay Instructions:

Final Project Due: What Does the Future Hold? Over the past several years we have witnessed dramatic changes throughout the media and entertainment sectors. In many ways the COVID-19 pandemic has but accelerated some of these changes. The future and which organizations will succeed or fail remains uncertain. For the final project, please select a company that you feel will be one of the dominant media and entertainment enterprises 10+ years from now. Ideally, you will give an overview of the firm, its competitive advantages and challenges and why you feel it will thrive in the future. In making your case, you will need to think about the assets, capabilities, skills, etc. that are necessary to compete successfully. Some of this will revolve around the relative importance of content, data, distribution and technology to help create competitive advantages for the near and long term. Use the previous cases and class discussions to inform and support your analyses. The paper should be 4-5 pages in length (double-spaced). A possible outline is below: a. Executive Summary – A concise summary of your paper. Approximately half of the executive summary should focus on your recommendations for the firm’s goforward strategy b. Company Background – A brief background of the company and a description of its product/services and its major competition. c. Current Strategy -- A brief description of the company’s current strategy. d. Why you Feel it Will be Dominant in the Future –Consider the firm’s business model, how it is evolving and how changes in technology and consumer behavior may impact its future success. Are their broad trends that might help drive future success? Be sure to explore how your company compares to its main competitors as well as its less direct/obvious competitors. Indicate where the company’s strategy is appropriate and where it is flawed. If possible, also add some rudimentary financial analysis. e. Your Recommendation to Assure Success – Highlight your strategic analysis recommendations to assure the organization’s future success in the near and long term. Don’t be afraid to get creative.

Essay Sample Content Preview:
Netflix
Executive summary
Netflix revolutionized entertainment in our homes by providing on-demand streaming services. As a result, the company has grown from renting out DVDs to distributing and producing its content through its streaming platform. The company has expanded and attracted new users in different countries by adopting competitive pricing. Constant engagement with users through sales promotion and social media has helped Netflix secure loyal customers. However, its success has attracted many competitors, for instance, Amazon Prime, Hulu, Disney, and HBO. To guarantee its position as a market leader, the company needs to invest more in strategic mergers and acquisitions, adopt dynamic pricing, more in-house production, and leverage technology.
Company Background
Netflix is an American company co-founded in 1997 by two entrepreneurs, Reed Hastings and Marc Randolph. The company started renting out DVDs movies using the internet. Users would register with Netflix's website and select movies through the same platform, and the company would mail the DVDs to them with prepaid return envelopes. The company then had more than 100 distributors. Subscribers paid a monthly subscription fee and were allowed many movies.
        In 2006 Netflix had a contest to improve its recommendation system by at least 10 percent based on the rental data it used to collect. Three years later, the company improved its recommendation system and issued a $1 million prize to the winners (Hosch, 2022). In 2007, Netflix started offering online streaming services for licensed movies and television programs to their users. The streaming service changed the entertainment culture by fulfilling the anywhere-on-anytime-you-like needs. The streaming service was unlimited for the majority of subscription plans. Netflix later teamed up with producers of various consumer electronics products, like game consoles, to allow consumers to stream its content via those devices. Netflix launched an exclusive streaming plan in 2010 that allowed unlimited streaming (Hosch, 2022). Netflix then expanded globally by launching its streaming services in Canada in 2010. Netflix had a presence in over 190 countries by 2016 (Hosch, 2022). Despite launching a streaming service that grew to become the primary revenue earner, the DVD-rental division remained profitable. Apart from subscriptions, the other revenue channel for Netflix is advertising through product placement. However, advertising forms a small component of the company's revenue.
        Netflix's leadership as the most preferred on-demand streaming service provider based on the number of subscribers is constantly under threat from "newcomers."Amazon Prime, which boasts approximately 99 million subscribers, is among Netflix's top rivals (Gavrilescu, nd). YouTube is also a formidable rival. Youtube gets over 800 million unique online users each month (Gavrilescu, nd). HBO, HULU, and Disney's streaming services also offer on-demand video services like Netflix. Therefore, making the competition extremely competitive.
Current Strategy
        Netflix's current strategy is to expand its ma...
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