8 Interesting Netflix Facts That You Should Know!
- July 28, 2020
- Posted by: Manju Rai
- Category: Reviews
In this digital age, watching movies on DVDs may seem absurd. For some people, paying money to buy a single movie is a waste of money, given how accessible some movies are.
To solve this, some media companies are slowly adapting to web-based streaming sites to cater to more people. One of the leading pioneers as of today is Netflix.
Since its launch in 1997, Netflix has been simultaneously operating its DVD by mail service and streaming site. It was even founded a year before Google!
Netflix has made entertaining more accessible to more people. Given its vast categories and titles, you will never run out of options! People would opt for Netflix because you may stream for hours without ads.
Not only that but its app is also flexible and gives its users a lot of options. Some people can watch their movies on-the-go using their phones. You may even download some titles for offline viewing.
However, did you know that Netflix went through a lot before becoming our favorite entertainment source now? Let’s travel back in time to learn more about Netflix.
Why is it called Netflix?
Before Netflix, founder Marc Randolph used to call the company Kibble. It was a term he used for legal documents and test sites. However, they opted to change it after many test sites.
The name is pretty straightforward. ‘Net’ from the word ‘internet’ since it is an online platform. ‘Flix’ or ‘flicks’ which is another term for movies. The name is simple yet the branding is on point.
The first Netflix original was released in 2013
As we all know, Netflix produces its in-house movies and series which is known as ‘Netflix Originals’. Did you know the very first Netflix original series is House of Cards? Now, that’s one of the Netflix facts that you should know! Created by Beau Willimon, the series is based on a novel by Michael Dobbs.
The show garnered positive feedback from the audience and was once of the most-streamed series when it was released. The show also got nominations and awards. As of today, Netflix has around 1,500 original titles that you should check out. Some of their titles are Bojack Horseman, Stranger Things, You, and Black Mirror.
How does Netflix update its movie library?
Well, one way to do it is pretty practical. Sometimes, Netflix monitors the most downloaded movies and series from BitTorrent. They also check other pirate sites to compare.
Data gathered from their research will be used to determine which titles should Netflix buy. This has helped to attract new subscribers because users don’t have to wait for hours to download their favorite movies. Pretty smart, right?
Blockbuster rejected Netflix
Blockbuster had the chance to purchase Netflix way back in 2000 for $50 million. In this partnership, Netflix will be handling the online service while Blockbuster continues its physical copy rentals.
However, Blockbuster denied the partnership. In 2010, Blockbuster officially filed for bankruptcy. As of 2020, Netflix’s net worth is around $125 billion. Talk about missed opportunities!
Netflix hired a spoiler expert
Well, sort of. Netflix hired a cultural anthropologist and would conduct a survey among its users on how they perceive spoilers. It was revealed in the study that some people prefer knowing some spoilers.
The viewing activity of most people is not affected even if users know the plot of the story already.
Netflix saves you a lot of time
Hear us out! Compared to other streaming sites, Netflix can save you up to 160 hours of ads per month. That’s around 6 days of your time. You can already binge-watch two series with this given timeframe.
Netflix spends more than they earn
Yes, you read that right! Even though Netflix is a billion-dollar enterprise, they also spend a lot of money to be consistent with their service.
Netflix gets their revenue on their monthly subscription plans. Annually, its recommendation engine alone is worth $1 billion. Imagine how much they spend on the streaming rights and licenses of each of their titles.
In 2019, Netflix paid around $100 million for the streaming rights of the 90’s hit sitcom, Friends. In the same year, Netflix reported a negative cash flow which amounts to around $3.3 billion.
You’re part of a community
Netflix would recommend titles base on your searches and previously watched flicks. Its algorithm may be weird for some, but it actually shows more accurate results.
There’s said to be around 2,000 different niche groups on Netflix. Its personalized recommendation is also a huge factor in user retention.
What’s next for Netflix?
Believe it or not, Netflix is one of the companies that is continuously thriving in the middle of the pandemic. Now that everyone is advised to stay at home, it’s natural that most people would resort to Netflix as an entertainment source. Despite its losses, we will surely see more of Netflix in the future.