Netflix is television shows and movies rental service for flat rates via US mail and also an on-demand internet streaming media for its subscribers. Netflix came into being, in 1998, when one of its founders, Reed Hastings had to pay late fee charges on returning DVD. Netflix has now expanded into Latin American and European markets in the recent years and planning for further expansion as well.
Netflix has tied itself into several deals with Starz Entertainment, Paramount, Lions Gate Entertainment, Disney and etc. Netflix has exclusive first run rights to show films from the above mentioned entertainment magnates.
Marc Randolph and Reed Hastings used to work in Pure Software before they conceived Netflix’s idea and converted it into a reality venture. Netflix has been evolved over a period of time and its business model has become more compact one now with the annual revenue of $3.20 billion in 2011.
Reed Hastings is the CEO of Netflix and is also board member of Microsoft and Facebook. He received his bachelor’s degree from Bowdoin College. Hastings has worked really hard to create an environment of freedom and responsibility in Netflix. Hastings is recognized as one of the best paymasters in America and also working very actively for several not-for-profit organizations.
Will Richmond interviewed Reed Hastings to find out secrets behind the phenomenal success of Netflix in 2010. In order to uncover his winning strategies check out the videos below. They contain Reeds words about,
- Forces Behind Netflix’s Growth
- Netflix’s Drivers for Reducing Subscriber Acquisition Cost
- Netflix’s Cost Details for Streaming Movies Versus Sending DVD to Subscriber
- Netflix’s Vision about the Unlimited Streaming and Much More.
So, folks just start streaming videos below and get immersed into the success story of entertainment journey.
Video: Founder Reed Hastings Tells Netflix.com (2 parts)
(filmed at 2010)
Video Part 1
Video Part 2