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!
Top 10 Brands Owned By Tata Group
Tata Group is another of India’s oldest brands which was founded in 1868 by Jamsetji Tata. Tata Group began as a trading company and has since then diversified into almost every major industry. The Tata group has a rich history of having dealt in almost every major industry which includes software as well as heavy machinery. Tata Group is one of the largest employers in the world and currently employs more than 7,00,000 people across the world. Over the years, Tata Group has meticulously committed itself to delivering high quality goods and services and the Tata brand is now synonymous with sturdiness and high quality.
Let us have a look at the top ten brands owned by Tata Group.
1) Tata Steel
Tata Steel is the second largest steel company in India, next only to the state owned Steel Authority Of India (SAIL.) Tata Steel operates in 26 countries with key operations in India, Netherlands and United Kingdom and employs around 80,500 people.
2) Tata Consultancy Services
Tata Consultancy Services (TCS) is an Information Technology (IT) servicing and consulting company and operates in 149 locations across 46 countries. In 2015, TCS was ranked 64th overall in the Forbes World’s Most Innovative Companies ranking.
3) Tata Power
Tata Power is a company which generates, transmits and distributes power in India. Tata Power has an installed electricity generation capacity of 10,577 MW, it is India’s largest integrated power company.
4) Tata Motors
One of India’s largest automakers, Tata Motors products include passenger cars, trucks, vans, coaches, buses, sports cars, construction equipment and military vehicles.
5) Jaguar Land Rover
Jaguar Land Rover Limited is a subsidiary of Tata Motors and is the luxury car maker brand of the Tata Group. Jaguar Land Rover has been a subsidiary of Tata Motors since they acquired Jaguar Cars Limited and Land Rover from Ford in 2008.
ALSO READ: Top Ten Long Standing Indian Brands
Titan is a consumer brand which mainly focuses on manufacturing watches, eyewear and jewellery. It commenced operations in 1984 under the name Titan Watches Limited. In 1994, Titan diversified into jewellery with Tanishq and subsequently into eyewear with Titan Eyeplus. Titan has built a reputation as a reliable Indian watchmaker and their products are popular with the Indian masses.
Voltas is a home appliances company which specializes in air conditioning and cooling technologies. The company was incorporated on 6 September 1954 in Mumbai. It was a collaboration between Tata Sons and Volkart Brothers.
Vistara is an Indian airline service which is a joint venture between Tata Sons and Singapore Airlines. The airline had carried more than two million passengers by June 2016 and as of May 2019, has a 4.7% share of the domestic carrier market, making it the 6th largest domestic airline.
9) Taj Hotels
Taj Hotels is a chain of luxury hotels and a subsidiary of the Indian Hotels Company Limited, which is a subsidiary of Tata Group. The company operates a total of 100 hotels and hotel-resorts, with 84 across India and 16 in other countries, including Bhutan, Malaysia, Maldives, Nepal, South Africa, Sri Lanka, UAE, Taj Hotels UK, USA and Zambia.
10) Tata Sky
Tata Sky is an Indian satellite broadcast provider and is a joint venture between the Tata Group and The Walt Disney Company with Temasek Holdings as a minor partner. Tata Sky currently offers a total of 601 channels, 495 standard definition channels and 99 high definition channels and services, along with other many active services.
Let us know if we have missed any other famous Tata Group brands and we would cover them in another article!
5 Cricketers Who Are Entrepreneurs
Cricket as a sport in India commands an unrivaled attention almost bordering on zealous love. It is often compared as a religion and the cricketers often metaphorically referred to as gods. No other sport comes close to the kind of coverage cricket has in India and it is easy to find small cricket matches going on in the dusty lanes which brings together people of all ages. The sport brings together people regardless of their circumstances.
India always produced some outstanding cricketers and boasts about names like Sachin Tendulkar, Saurav Ganguly, M.S. Dhoni and Virat Kohli to name a few. While these cricketers are legends in their own rights at the game of cricket, they have conquered the 22 yards pitch, not many might know they are equally able entrepreneurs.
Let us have a look at five cricketers who are also entrepreneurs.
1) Sachin Tendulkar
Often referred to as the ‘God Of Cricket,’ Sachin Tendulkar is arguably the best batsman of this generation, to have walked on this planet. While Sachin had conquered many records on the field, he has also established a career outside of cricket since his retirement from the game. Sachin has investments in several brands and is one of the main investors in Smartron, a technology based company. His other investments include brands like Musafir, Smaaash Entertainment, and owns a string of restaurants to his name. Sachin is also the co owner of Kochi Indian Super League (ISL) franchise Kerala Blasters FC.
2) M.S. Dhoni
Mahendra Singh Dhoni or ‘Captain Cool’ as he is referred to by his fans, Dhoni is responsible for winning the Cricket World Cups in both the fifty overs and T20 formats. Mahendra Singh Dhoni stepped into the world of business, by buying a Supersport World Championship team, Mahi Racing Team India, which is co owned by Akkineni Nagarjuna. Dhoni is also the co owner of Chennaiyin FC with Abhishek Bachchan in ISL and also owns Ranchi Rays in Hockey India League with Sahara India Pariwar. Dhoni also launched a lifestyle brand, ZEVEN, and owns the footwear section of the Brand. Recently, he joined hands with the app Run Adams by buying 25% stake in the startup.
3) Virat kohli
Virat Kohli is the current captain of the Indian Cricket Team and is one of the best players of the current generation. Virat is also one of the world’s most famous sports persons along with the likes of Leo Messi, Christiano Ronaldo, Roger Federer and LeBron James. Virat is an astute businessman apart from being the captain of the cricket team. His first business investment was for FC Goa in ISL, where he co owned the football team franchise with a vision to grow football in India. He also launched the youth fashion brand Wrogn with Anjana Reddy to produce casual wear for Men and tied up with Myntra Fashion, as well as Shopper Stop to promote the brand. Kohli also holds shares in the London based Tech Startup, Sport Convo, which is a social networking site for sports lovers to talk about their favourite stars. His urge to make India fit, drove him to create the fitness brand Chisel, in association with Franchise India. Chisel is a chain of Gym and Fitness centres spread across various regions of the country.
4) Virender Sehwag
Often referred to as the ‘Nawab Of Najafgarh,’ Virender Sehwag was the bane of bowlers across the world because of his daredevil batting techniques. Sehwag owns a restaurant in Delhi’s Moti Nagar since 2006 and is named as ‘Sehwag’s Favourites.’ He started a school, Sehwag International School in Jhajjar, Haryana. It has world class facilities that aim at a 360 degree development of students. They are rated as one of the best schools of India with a sports academy, where Sehwag coaches kids personally, during his off time.
5) Yuvraj Singh
Yuvraj Singh is best remembered for smashing six sixes in a single over against England and used to entertain fans thoroughly with his batting and fielding skills. The former Indian cricketer, owns a sports based e commerce store sports365.in including investments in Vyomo, Moovo, Black With Orange, Cartisan, Heathians, Educart and Sportybeans. Other than that, Yuvi has also started YouWeCan, a startup which has helped hundreds of cancer patients battle their ordeal. Yuvraj was himself a cancer survivor and beat the disease successfully in the past.
These cricketers have won multiple accolades for India on the international stage and have also shined in their personal lives by setting examples. Let us know if any other cricketers should also deserve a mention in this list!
Storage For Rent: This Startup Idea Is Seeing A Huge Demand During COVID-19 Pandemic
If you could travel six months back in time and tell yourself how the world would look now, you might have dismissed it as a hoax. The world changed suddenly when the COVID-19 virus broke out and started spreading across the world. The virus which manifests in the form of a flu before attacking the respiratory system currently has no vaccine. This forced governments across the world and India included, to enforce a strict mandatory nationwide lockdown.
The lockdown was initially announced in India for just three weeks and many businesses and startups never expected it to go beyond a month. However, the lockdown is still continuing albeit with a few relaxations, but many industries continue to be badly affected by it as they saw zero revenue in the last three months. Many organisations and businesses have made the shift to remote work as their offices remain to be closed for fear of contracting the COVID-19 virus.
As software companies continue to declare work from home for the foreseeable future, many employees are looking to return back home from technology hubs like Bengaluru and Hyderabad so as to save money on huge rents in the metropolitan cities considering their offices are not opening anytime soon.
This is where a unique concept where companies offering storage spaces for long term rent is seeing a huge spurt in demand. As software employees in Bengaluru are slowly vacating their accommodations to move back home in order to save on rental expenses, they have no place to store their personal belongings. Firms like SafeStorage, Storagians, StowNest Storage and MyRaksha, which provide the service (storage for rent,) have seen a spike in clients and quotation requests. Even some gyms and restaurants, both of which are yet to reopen completely, are offering their facilities for storage in order to reduce their own rental expenses.
These storage firms offer facilities like pickup services, CCTV monitoring and individual locker facilities apart from providing insurance coverage against theft, natural calamities and fire. Ramesh Madisetty, co founder of SafeStorage, says “We have 13 warehouses with 1.16 lakh sq ft space in Bengaluru. We have signed up for another 27,000 sq ft facility near Whitefield. There is a 10x jump in enquiries due to Covid-19 , from 30 to 300 now (sic.)”
Another company named Storagians, which offers storage for rent in Bengaluru has already run out of storage space and are having to turn away customer requests. Prasanna Kumar, founder of Storagians says “Unfortunately, we are turning down customers’ requests due to the non availability of slots sic.)”
The average monthly rent is based on the volume of goods. While goods accommodated in 1BHK are charged a monthly rental of Rs. 2,500-3,500 and it will be Rs. 4,500-5,000 for 2BHK. As more and more enterprising people are embracing this concept, many others are racing against time to get their own facilities up so they can offer storage space for rent. This concept will continue to see a huge demand as long as companies keep working remotely.
- Pickkup – This Hyper-Local On Demand Service Startup Delivers Anything Anytime Anywhere
- Uber And Bajaj Partner To Install Safety Partitions In One Lakh Auto Rickshaws
- Top 10 Brands Owned By Tata Group
- 5 Cricketers Who Are Entrepreneurs
- BoAt – An Audio Device Startup Wooing The Indian Millennial
- Storage For Rent: This Startup Idea Is Seeing A Huge Demand During COVID-19 Pandemic
- Mukesh Ambani Overtakes Warren Buffet To Become 7th Richest Man In The World
- 4 Things To Know About Instagram Reels
- Top 10 Brands Owned By Coca Cola
- 5 Books For Every Entrepreneur In 2020
- Top 10 Highest Paid TikTok Stars In The World
- India’s Reliance JioMeet To Take On Zoom
- TruCup: This Startup Is Fighting The Taboo Of Menstruation With Sustainable Sanitary Products
- Top 10 Richest Women In India
- The Rise Of Gig Economy In India
- Top Ten Brands Owned By Pepsico
- Mukesh Ambani Enters Top Ten Billionaires List
- Amazon To Deliver Liquor Online In West Bengal
- Infosys Considering Permanent Work From Home For 30% Or More Employees
- Target Sets A Benchmark By Raising Minimum Wage