Back in the late 90’s, Reed Hastings, the man who breathed life into Netflix, realised, the way to get over avoiding late fees for the videos he rented was not by fighting the system, but by creating his own video rental platform. While the idea for Netflix came in 1997, the official website was launched on the 14th of April, 1998. Armed with an idea, 30 employees, an initial investment of $ 10 million and 925 titles to its name, Hastings and his partner, Marc Randolph, gave birth to the official Netflix website.
For the first month, Netflix worked with a simple formula: giving people the option to browse through and rent the videos they wanted. Back then, the DVD format was just beginning to be accepted in place of VHS tapes, making it extremely easy for the team to mail videos through the rental service. By 1999, the service became extremely popular and the Netflix team decided to charge people a monthly subscription fee for renting videos!
This was a new path for the Netflix team. Not only were there no late charges, there was also no restriction on the number of DVDs you could rent and there were no shipping fees. This gave people the option to spend more time on the website by browsing through the large catalogue with complete ease! As a result of the consumer specific approach, the primary rival of Netflix, Blockbuster, suffered majorly, giving Netflix the dominance in this field. What could get better?
Unfortunately for Netflix, while their idea was spot on, the format wasn’t quite growing according to the plan for the first few years. Only a small percentage of Netflix’s regular user base had access to DVDs and VHS tapes were still a more preferred form of watching movies. Slowly through the years, as DVDs became more accepted, the online platform recorded its first ever profit ($ 6.5 million in the year 2007.) Soon after, Reed realized, they had to change the way people looked at Netflix and with this in mind, the team came up with a product which would redefine online streaming forever.
The birth of online streaming
By February 2007, Netflix announced the streaming feature, the first ever feature which would let people watch their favourite content on the internet. The introduction of the “Watch Now” button quite literally caused a sensation. With a little over 1,000 titles, the streaming part of Netflix only made up for about one percent of Netflix’s entire video collection.
Through the years, not only did Netflix start acquiring more titles to its name, it also started giving people a new way to watch TV shows. From the moment the “Watch Now” button was introduced, users started onboarding new titles on a daily basis. By 2009, the Twitter world gave us the phrase, “Netflix and Chill,” which, although seemingly to the point and clear, has more than its fair share of hidden innuendos. By 2014, the platform had subscribers from more than 40 countries across the world and with social media being of Netflix’s best used advertising platform, people were hooked to this new phenomenon.
The introduction of original content
Despite Netflix being at the peak of its fame, Hastings was far from being satisfied. He didn’t want to be known for sponging off existing titles, but wanted to be known for the original movies present on Netflix’s website. Introducing the concept of binge watching, the first ever series produced by Netflix was called Lilyhammer. However, this Norwegian show first premiered on the Norwegian channel NRK1 in January 2012 and in North America, on Netflix, in February 2012. This show was cancelled after its third season.
Unlike other platforms, Netflix didn’t make you wait for an entire week for one episode. It had no advertisements during the episode and it let people watch for free for the first three months. Things just kept getting better and better for the brand!
In 2013, Netflix changed the way people viewed content by privatizing the user base. By enabling the option of having individual profiles, Netflix now gave people the option of curating videos according to their preferences. While original content was one way Netflix used to market itself on a large scale, Netflix also realised that bringing to life cancelled shows was a good way to its original content. Take for example, shows like Arrested Development and Brooklyn Nine Nine. Both were immensely popular shows and when they were cancelled, they sent everyone into a tizzy. Netflix played the role of the guardian angel here and with a single swoop, renewed everyone’s hope for a better tomorrow! With shows like Daredevil, Jessica Jones, House of Cards, Luke Cage and Narcos, Netflix is the producer of some of the most popular shows in the world!
Netflix and social media
While most brand liked keeping a neutral tonality on social media, Netflix decided to do the opposite. By finding a unique voice for themselves, Netflix realised the best way to make a mark on the social media world was by being unabashedly true to the tone of your brand. In fact, their strategy worked so well, the posts made by this platform is among the best performed posts on the internet.
— Netflix US (@netflix) March 18, 2016
While numbers may affect your social media game, Netflix created its social media strategy by taking into account the quality of its content, not the quantity. By using relevant posts, witty comments and listening to what people are saying on the internet, Netflix used social media to its complete advantage.
A brilliant marketing strategy, an eye for detail and clear plan to create something really unique, Netflix is today available in over 190 countries and is producing more regional content than any other competitor. Despite taking more than one hit, Netflix more than proved its superiority in the streaming world!
Warren Buffett Most Inspiring Quotes
The fourth richest man in the world, Warren Buffett is one of the greatest businessmen and investors of all time. Known for succeeding in everything at which he tried his hands, Warren Buffett is an inspiration to many. Here are the 10 most inspiring quotes by the “Oracle of Omaha.”
Most inspiring quotes by Warren Buffett
1) About passion
2) About happiness
3) About expectations
4) About success
5) About spending
6) About the important rules of life
7) About reputation
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Know the risks for it will keep you cautious. . . #StartupStories #StartupLife #GrowthTips #FridayThoughts #WarrenBuffett #USA #motivationalspeakers #motivationalquotes #inspirationalquotes #inspiration #success #successmindset #sundaythoughts #sundaymotivation #believeinyourself #believe #entrepreneur #entrepreneurship #entrepreneurgoals#instadaily #instainspire
8) About doing good
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Work in such a manner that you leave behind something useful for later generations. . . #StartupStories #StartupLife #GrowthTips #LifeHacks #WarrenBuffett #ThursdayThoughts #motivationalspeakers #motivationalquotes #inspirationalquotes #inspiration #success #successmindset #believeinyourself #believe #entrepreneur #entrepreneurship #entrepreneurgoals#instadaily
9) About investment
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Invest in yourself before investing in anything else. . . #StartupStories #StartupLife #FactOfTheDay #MondayMotivation #GrowthTips #LifeHack #warrenbuffet #warrenbuffettquotes #motivationalspeakers #motivationalquotes #inspirationalquotes #inspiration #success #successmindset #believeinyourself #believe #entrepreneur #entrepreneurship #entrepreneurgoals#instadaily #instainspire
10) About greed and fear
From being a paper delivery boy, to becoming one of the richest men in the world, Warren Buffett is an absolutely inspirational figure.
Comment below and let us know which of these quotes by Warren Buffett inspired you the most.
First Jobs Of Famous Billionaires
The success stories of many billionaires around the world inspire many people of our generation and have, on several occasions, ignited a desire in many to start their own business. However, many of these successful people began their career by working ordinary jobs. Let’s look at 5 such successful people, who started their career by working some very ordinary jobs.
First jobs of famous billionaires
1) Warren Buffett
Warren Buffett is the CEO of Berkshire Hathaway and is often referred to as the “Oracle of Omaha.” However, this American business magnate started his career by selling Coca-Cola bottles, chewing gum and magazines door-to-door. At the age of 13, he became a newspaper delivery boy and made $ 175 a month, delivering The Washington Post. He continued to look for other business ventures and accumulated savings of $ 9,800 by the time he finished college. Now, with a net worth of $ 82 billion, he is the fourth richest person in the world.
2) Michael Bloomberg
Michael Bloomberg, who founded the financial, software, data and media company Bloomberg L.P., worked as a parking lot attendant when he was young. Born to middle class parents, Bloomberg worked in a parking lot to pay his tuition fees in college and went on to graduate from Harvard Business School. Now a well known philanthropist, Michael Bloomberg is one of the richest people in America, with a net worth of $ 53.5 billion.
3) Oprah Winfrey
Oprah Winfrey is a well known media mogul and entrepreneur, who worked as a grocery store clerk in Nashville to support herself. She then landed a job in radio at the age of 16 and worked her way to the top, eventually owning her own production company. Now, with a net worth of $ 2.6 billion, she is considered one of the most influential women in the world and is a source of inspiration to many.
4) Li Ka Shing
Li Ka Shing was the former chairperson of CK Hutchison Holdings and CK Asset Holdings and is one of the most influential entrepreneurs in Asia. Coming from a poor family, he started his career as an apprentice at a watch strap factory when he was 13 years old and at the age of 19, became the general manager of the factory. He later started his own plastic manufacturing company and used the profits from the company to invest in real estate. Li slowly worked his way up the ladder of success and is now one of the richest people in Hong Kong, with a net worth of $ 27.1 billion.
5) Mark Cuban
Mark Cuban is an American Shark Tank investor, co founder of Broadcast.com and owner of the American basketball team Dallas Mavericks. Cuban began working at the age of 12 as a door to door garbage bag salesman. After graduating college, he worked as a bartender and then as a salesman for a software company. He started his own company, Broadcast.com, after getting fired from his job and now has a net worth of $ 4.1 billion.
It is true, starting at the bottom does not guarantee success. However, if you find your passion and work hard towards it, nothing is impossible, as the aforementioned individuals proved.
JRD Tata Unknown Facts
Tata Group, which began in 1868, has had six chairmen until now. Among the six men who served this renowned business group, there was one exceptional man who served as its chairman for 50 whole years and took the Company to great heights. Yes, the man we are talking about is none other than Jehangir Ratanji Dadabhoy Tata, or JRD Tata.
From starting India’s first ever international airline, to giving the Country one of its largest cosmetic brands (Lakmé,) this gentleman has done it all. JRD Tata also strived his best to improve India’s economy on the whole. Here are some unknown facts about this exemplary industrialist.
Unknown facts about JRD Tata
1) JRD Tata was born on 29th July, 1904 in Paris and had a French citizenship for a long time. He even served as a part of the French Army for one year.
2) In 1925, he entered the Tata Group as an unpaid apprentice.
3) JRD Tata was always keen on flying and became India’s first licensed pilot in 1929.
4) In 1929, JRD Tata also renounced his French citizenship and took up Indian citizenship.
5) In 1934, JRD Tata was elected as the Chairman of the Tata Group. He was only 30 years when he was elected for this position, making him the youngest person to head the Group.
6) When he was appointed as the Chairman, the Tata Group had 14 companies under it. JRD Tata expanded it to an empire of 95 companies in a span of 50 years. Some of the most renowned companies established by JRD Tata during his tenure as the Chairman include Tata Motors (1945,) Lakmé (1952,) Tata Tea Limited (1964,) Tata Consultancy Services (1968) and Titan Industries Limited (1987.)
7) JRD Tata was the person who launched Air India International, India’s first ever international airline. For this reason, he is also known as the ‘father of Indian aviation.’
8) JRD Tata was the man who initiated the ‘employee welfare schemes’ in India. He is responsible for the 8 hour work day, free medical aid and the employee provident fund. These principles were later adopted by the Indian Government.
9) It is no surprise this man received several awards during his lifetime. His awards include the Padma Vibhushan (1957) and the Bharat Ratna, India’s highest civilian award (1992.)
10) When JRD Tata died in November 1993, the Indian Parliament was adjourned in his honour.
Which of these facts about JRD Tata surprised you the most? Comment below and let us know.
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