Learning Outcome 1 (U24): Understand the products that are produced within and across media industries
D1 (U24): Discuss how successful media concepts have been positively exploited across multiple media industries
Netflix has a wide variety of content available for a wide range of its audiences. They have a separate section for kids by pressing the children's button on the top right of the screen. In addition that Netflix also appeals to a wider audience by the category sections when scrolling down its streaming website. This would appeal to the audience as some categories include international, documentaries, and reality. Therefore because of this, a wider range of fans would be able to find something to watch easily. Netflix’s target audience is international and is dependent on the media its customers watch. It is said that their target market consists of four different groups, binge watches, movie bugs, people who demand high value, and lastly children. After subscribing to a way in which they target their target audience is by the recommendations which appear there give their viewers more options and shows to watch directed at them. Moreover, another way the target audience is targeted is by showing their customers the top 10 and high percentage programs they have released. Netflix is trying to gain and achieve a high number of customers which would result in a higher profit made. As well as that Netflix wants to provide its customers with astonishing service, their suppliers with a valuable partner, investors with profitable growth, and their employees the allure of a huge impact. Therefore that is the main reason behind their content being listed on Netflix.
In 2018 the cost of Netflix's stock price was $418.97, and over a two-year period, Netflix’s is now worth $194 billion. Due to these figures, we can now see Netflix has a significant increase in stock price and value. Furthermore, in 2018 the number of subscribers was 139 million, this generated a revenue of $15.97 billion, in comparison to now that number is insignificant as Netflix now has around 182 million. The reasoning behind Netflix gaining more subscribers yearly is primarily due to the fact that this platform appeals to a wide range of audiences and therefore doesn’t limited their target audience. Furthermore, the number of subscribers increased from around 15 million, the reasoning behind this is because of the global pandemic happening around the world, this has a significant impact on the number of subscribers Netflix has as more people are spending more time at home and therefore results in them wanting to watch more television. Ways in which technology has improved and how it has changed is the speed at which Netflix loads, past problems included slow loading, buffering, and pixelation. Because of this Netflix found ways in which they were able to fix these issues so they wouldn’t lose customers and viewers.
Netflix has become a successful cross-media product simply due to the wide range of platforms their customer are able to watch their shows on. As Netflix gained more subscriptions and more customers watching their streaming website, they opened up the opportunity for customers to be able to watch and stream this form of technology from their phones, computers, televisions, and tablets. As well as on gaming consoles such as DVD, and Blu-ray players due to convergence. By doing this it allowed all of Netflix’s customers to find a way to watch the shows. Primarily due to the fact, there is a wide range of platforms Netflix customers are able to watch this it has a positive impact on the business as it is more convenient and appeals to a wider audience. In addition that Netflix allows you to download programs for when you're offline as well as connected to the internet. This appeals to the audience as you are able to watch Netflix at any given time. The reasoning behind Netflix choosing these different methods is due to the fact they want their streaming service to attract all of their targeted audience.
There is a range of audiences which are subscribers of Netflix, this audience ranges from children to elderly adults. Ways in which Netflix has targeted their different audience is through the different genres shown. Netflix has released comedies, horrors, action, adventure, thriller, and much more. This is one way in which different audiences are targeted as these genres would appeal to everyone. Secondly, another way they are reached is through the research they have conducted to find out what they want to watch. Another way the audiences are reached is through trailers, by knowing what customers watch Netflix showcases new trailers recommended to that audience.
One way in which Netflix has advertised its self streaming business is through the use of social media. Facebook is Netflix’s main source of advertisement, the reason behind using this type of advertisement is because it targets teenagers. Another form of advertisement which Netflix used is through word of mouth, Netflix relies on the public to speak about their self streaming business which creates publicity for its self. By the public speaking positively about their business it intrigues the public wants them to subscribe. Another way in which the brand is advertised is through the use of above the line advertising such as billboards to grab the publics' attention, which attracts a wide range of audiences. Furthermore, Netflix has also been promoting itself through commercials to grab people's attention. Therefore as you can see there is a wide variety of brand and concept advertising which has taken place to promote Netflix’s business.
A smart tv can connect to the internet without the need for a set-top box or streaming device. A smart tv allows uses to go between streaming services and social media on their television, this is more convenient and easier to use. Netflix has adapted to these new televisions as it allows you to watch Netflix directly on your tv as well as enabling you to connect to other streaming services such as The Amazon Fire.
Penultimately there is a wide range of devices you are able to watch Netflix on but sadly there are a limited number of virtual assistant tablets which allow you to watch Netflix, one device used in conjunction with this would be Google home as it allows you to sign in to your Netflix account.
Celebrity endorsement is a form of advertising as it creates publicity for the business as well as creating exposure for celebrities. Netflix uses a high percentage of celebrities in their movies and shows such as Adam Sandler. By doing this it creates limelight for the business as these celebrities would showcase this movie on their social media causing a large amount of positive commotion.
Netflix tailors their content specifically to each registered user in a few ways, one of the ways they achieve this is by creating the ‘because you’ve watched’ and ‘you’ll probably like’ features, these two options allow the viewer to see other programs and options for them relevant to their previous watching habits. This feature that Netflix has provided the viewer gives the consumer an incentive to watch certain films they may never watch which primality intrigues them wanting them to watch more. Another way Netflix tailors their content for their viewers is when pressing on a program it mentions ’95% recommended’ due to this feature on Netflix it allows others to see how popular that show was. Thirdly, notifications are received on people's devices which mention new shows that have been recently added. This may intrigue the viewer making them want to watch this.
Another feature that targets Netflix’s audience to watch more shows is their ability to download content for when they are offline. This gives the viewers the opportunity to not only watch shows when they are at home but as well as when they are out or perhaps traveling. Therefore Netflix would attract more consumers through this by being able to watch shows when they are not connected to the internet. To download movies and shows for the future you would have to be connected to WiFi or 4G at the time of downloading.
In conclusion, successful media concepts have been positively exploited across media industries such as Netflix in many ways. Primary due to the wide target audience of this media industry. In addition to that successful media, concepts have been exploited in a positive manner due to selected genres Netlflix showcases. Therefore, in conclusion, Netflix has taken advantage of their opportunity in many ways.
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