Netflix – The Curation of Taste and the Business of Diversification (2024)

Netflix is considered as a global business invested in strategies of diversification, localisation and personalisation in light of several discourses about the streaming service. One presents Netflix as an evil corporation encouraging binge-watching and reducing individuals to data. A utopian discourse proclaims the democratising potential of digital media technologies, including Netflix’s claims about its personalised, on-demand service. An industry discourse laments Netflix’s disruption of the film and television business. Finally, a scholarly discourse maps the political economy and cultural impact of Netflix. Each discourse attaches a particular cultural value to Netflix. Some offer ‘antidotes’, including the niche streamers, with their ‘curated’ collections of specialised content. Both types of streamer are in fact gatekeepers regulating access to cultural experiences and promoting particular ideas of taste and diversity. Netflix’s strategies of customisation and glocalisation, and its activities in the Middle East and North Africa, demonstrate in the end that diversity is good for business.

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Netflix – The Curation of Taste and the Business of Diversification (2024)

FAQs

What is Netflix diversification strategy? ›

Netflix Is Diversifying Content With Games To Retain People Inside Their Platform. Netflix Games is the streaming platform entry in the gaming industry. This movement can bring interesting insights to marketers about how content can be used to maintain an active image in the public and bring new business.

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Will Netflix diversify? ›

Overall, Netflix's strategy of diversifying its portfolio has been instrumental in maintaining its position as a leader in the streaming industry. By expanding into new markets like WWE live streaming, Netflix aims to attract and retain subscribers within an increasingly competitive market segment.

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What was one of Netflix's notable innovations that helped Netflix increase the platform availability? ›

Netflix's technology strategy is focused on improving the user experience and delivering high-quality content across different devices and internet speeds. One of the key technologies that Netflix has developed is adaptive streaming, which adjusts the video quality based on the available bandwidth.

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Does Netflix's culture contribute to the organization's success? ›

But does a cool culture equate to the success of a company? Not necessarily. When shaping their culture, Netflix not only sought to build a strong company culture, but they defined the culture in a way that would motivate high performance at the same time. Netflix's approach to culture and talent is unique because 1.

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What type of business strategy does Netflix use? ›

Cutting-Out-The-Middleman Business Model.

Netflix Inc. bypasses middlemen or intermediaries by directly distributing its original content to customers via its own streaming service. The company uses its competitive advantages and capabilities to apply this business model.

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Why Netflix has decided to make diversity a top priority? ›

The decision makes sense, according to Netflix's Director of Global Kids Content Andy Yeatman: "We're rapidly coming to the place where more of our members are outside the United States than are inside, so we want content that reflects our membership base." With the exception of Canada, Netflix has been in Latin ...

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Equitable Practices

And we offer inclusive benefits: flexible parental leave policy, a family forming benefit, and transgender and non-binary care in our U.S. health plans.

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Content Acquisition Costs: One of the primary weaknesses of Netflix Inc is the high cost associated with content acquisition and production. As the company strives to maintain its competitive edge through original and exclusive content, it faces increasing expenses that impact its profitability.

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Why is Netflix considered a disruptive innovation? In Netflix's case, the disruptive innovation was from the start by introducing the DVD rental service, which allowed customers to get their DVDs mailed to their house.

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What is Netflix's competitive advantage? ›

In conclusion, Netflix's competitive advantage and market dominance can be attributed to its vast content library, personalized recommendation algorithm, commitment to innovation and technology, global reach and expansion strategy, investment in original content, subscription-based business model, and strong brand ...

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What was the most significant strategy did Netflix do to attain its success? ›

And yet, in 2007, Netflix made one of the most successful corporate strategy shifts ever when it launched its on-demand streaming service. Instead of having to make a list of movies and wait for a DVD to show up in the mail, you could simply click on what you wanted to watch and stream it instantly.

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What technology did Netflix use to expand their business? ›

Netflix harnessed the power of big data to understand customer behavior, enhance user experience, and optimize their content library. Here are some of the key technologies they employed: Recommendation Engine: Netflix developed a robust recommendation system powered by machine learning algorithms.

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What factors led to Netflix's growth? ›

At first, Netflix was just shipping DVDs through the mail and later they eliminated late fees that greatly lead to Blockbuster's crush. With the passage of time, they moved up from mailing the content to streaming movies and TV shows in good quality.

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Why did Netflix become so successful? ›

One of the reasons Netflix's engagement is so high is that it deploys numerous tools to coax a viewer to watch. And that's no small matter. There are more than 10,000 titles on Netflix and thousands more on other streaming services. Picking a show or movie is often tedious and frustrating.

What are the main values of Netflix organizational culture? ›

Like all great companies, we strive to hire the best and we value integrity, excellence, respect, inclusion, and collaboration. What is special about Netflix, though, is how much we: encourage independent decision-making by employees.

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What is Netflix broad differentiation strategy? ›

Netflix is pursuing a broad differentiation strategy. Netflix has placed an increased emphasis on a content library comprised of a larger and diverse selection of original content. Going into 2020, Netflix grew its content offerings up to a total of 1,197 titles.

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What are the strategy of Netflix to innovate their strategy? ›

What is Netflix's main innovation strategy? The Netflix innovation strategy focuses on maximizing its competitive advantage through its product and process innovations. The innovations are aimed at making the Netflix streaming service high quality and accessible for the majority of consumers.

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