Without a doubt, Netflix is one of the most popular streaming services today. In just 4 months, it managed to add half as many subscribers as Hulu. Since its launch, it has been producing unlimited content for its worldwide users. Everything ranging from documentaries to TV series can be found on this platform. So, what are some of the most interesting facts about Netflix that make it so popular? Let’s find out:
Surprising Number of Subscribers
Netflix launched in 1997 and in about 23 years, it has managed to acquire about 167 million memberships in over 190 countries. While there may have been some powerful Netflix alternatives like DVDs and Cable extra back in the day, their popularity has decreased with time. Since its launch of acclaimed shows like House of Cards and Orange Is the New Black in 2013, the number of Netflix users have only continued to grow.
Netflix Vs Cable
Netflix is giving cable providers a run for their money. While the cable providers are launching TV streaming devices and other equipment to stay relevant, no one can deny that Netflix has managed to surpass cable in surprising numbers. According to Forbes, Netflix has about 2.24 million more subscribers than cable companies in the US. However, it is important to note that the people who use traditional TV services like satellite TV don’t account for these numbers.
Ever thought about earning money as a translator? While services like Pluto TV are only available in a number of countries outside the US, Netflix has managed to reach about 190 countries and support up to 20 languages. Therefore, it seeks translators from everywhere in the world who can produce content-related subtitles in 20 languages. It also has its own comprehensive HERMES test to check the candidate’s translation skills.
One of the most fascinating facts about Netflix is certainly its weird suggestions. Based on data, it categorizes the users in almost 2000 different groups. This data takes note of the user’s viewing habits and suggests him/her something slightly different from the usually preferred genre. The whole strategy is designed to make the user consume more content.
Users and Binge-watchers
Usually, only about a quarter of Netflix users stream shows and programs on a daily basis. However, due to the Coronavirus pandemic, the numbers have gone up.
From the statistics, it is clear that a large number of users binge-watch their favorite shows. Because Netflix releases all of the episodes of a TV series at once, almost 70% of users watch back-to-back episodes at one sitting.
Consumption of Bandwidth
Great infrastructure is required if one wants to stream high-quality content over the Internet. That is why most cable service subscribers have to buy other gadgets like Cox TV equipment to stream HD content. Since the company was dedicated to delivering high-quality content only, it had to struggle during its initial years. This was because people did not have access to high-speed Internet services at that time. Now, Netflix alone accounts for almost 15% of the world’s Internet bandwidth.
Payment of Subscription
Quite contrary to one’s expectations, about half of the users pay for their own subscriptions. Privacy concerns may be the biggest reason behind this fact.
Netflix’s current value is about $156.71B. This makes it the single most powerful streaming service in the market. While Hulu, HBO and Disney+ generate considerable revenues every year, Netflix has surely made it difficult for them to steal its customers.
According to the company, all of its users share at least 6 common shows. So, you can find something in common with another Netflix user even if you both have completely different tastes.
Negative Cash Flow
Although Netflix generates massive yearly revenues for itself, it still carries a surprisingly huge amount of debt. This is because it spends a large amount of this revenue on producing original content. Its long term strategy is to attract new customers with its massive amount of original content.
Different Subscription Prices Throughout the World
Contrary to popular belief, a Netflix subscription does not cost the same everywhere. Its subscription is the cheapest in Turkey and most expensive in Norway. For an Indian, it is quite an expensive option as it costs about as high as 5 percent of the average annual income.