Netflix and OTT – Redefining the Future of Entertainment

Source: Netflix

What’s Going On Here?

The age of Streaming has arrived. Everyone has grown more than familiar with the term ‘Streaming

Wars’. Competitive online streaming platforms are constantly strategizing to outmaneuver one

another in the realm of entertainment, all so consumers like you and me will bank with them. Or, to

use a more apt term, ‘subscribe’ to their services.

. Over the Top, or OTT is the ‘new age’ way to watch television and movies

. They are streamed through the internet, and can be accessed via multiple options:

Smartphones, laptops, tabs, computers, and gaming consoles.

Everyone and their grandmother have heard of the media streaming colossus Netflix, whose reach and accessibility has grown over the past few years. What took traditional cable TV decades to evolve, Netflix has done in a matter of years.

. When Marc Randolph and Netflix’s current CEO Reed Hastings came up with the basic

the notion of this ‘Digi-baby’ back in 1997, little did they themselves realize how grand their

the success story was going to be

. From its humble roots as a DVD rental service to becoming a powerhouse of entertainment,

one whose titles have proven worthy contenders for the Oscars and sundry major television

awards, Netflix has indeed grown from a fledgling reptile into a full-fledged dragon

. According to BusinessOfApps, by 2005 Netflix recorded a groundbreaking 4.2 million

users/subscribers.

Queen of the Realm

Instead of giving you a roundhouse lineup of various popular titles in Netflix’s illustrious digital library, we found it best to share some solid facts (courtesy BusinessOfApps,) with you instead. After all, entertainment is just a click away. You can readily figure out what’s on Netflix’s menu with a simple online visit to its dedicated portals. The facts, as the saying goes, speak for themselves.

. As of 2019, there were 159 million Netflix subscribers in the United States alone.

. As of 2019, UK households showed a breath-taking 5 million subscribers.

. The total revenue for Netflix as of 2019 was $20.2 billion.

. According to data collated in September 2019, Netflix has been in debt to the tune of $12.4 billion.

. On the other hand, its market cap stands at an impressive $163 billion; as of March 2020! These are but a handful of confirmed facts that prove just how deeply Netflix’s roots have gone, and how bountiful the harvest.

Power to the Users

The promise of no advertisements coupled with an almost infinite array of selections, running the entertainment gauntlet from drama and romance to action and sci-fi, and all things in between is certainly too alluring to deny. No matter what naysayers and critics may say, the people (i.e., users) have shown by their own choices that they are on the side of Netflix. And Netflix seems to have gladly accepted the mantle of Entertainment Godmother.

. The numbers tell a heart-racing tale: As of 2019, American accounts numbering 61 million were on Netflix’s register. As for the rest of the world, a whopping 106.1 million users were accounted for. That’s 63% of Netflix’s viewer base!.

. International users have only shown growth since then, a fourfold increase in subscribers to be specific.

. Netflix’s quarterly reports are not always golden, but the company’s growth and penchant for ‘entertainment madness’ has not stopped swelling.

With OTT competitors like Amazon, Hulu, Disney+, Peacock, and Apple pressing in on the ever-burgeoning demand for digital entertainment, Netflix has seen a serious dip in subscribers. But the numbers show that the giant is in no way fazed by its opponents in the streaming arena. “You Should See Me In A Crown” Even its staunchest rival, Amazon Prime Video with its 75 million subscribers, lags behind Netflix by an eye-widening 50% margin. The company has revealed just how powerful viewership can be as opposed to a strict roster of subscribers. When it comes down to it, Netflix has more viewers, and obviously superior online attention, than any other OTT platform currently out there. At the end of the day, it all boils down to where this ship is headed.

The future of entertainment – if the annual reports of ‘Her Majesty Queen Netflix’ is anything to go by – is steadily sailing toward a digital streaming horizon, one that is coming up to meet us as surely as we are sailing full tilt to engage its ‘new age’ magnificence.

Long live the Queen indeed.