[Fact 1: Netflix's beginnings]
Netflix began as a DVD rental service by mail in 1997. The business model drew inspiration from Amazon, with Netflix's co-founder Reed Hastings wanting a similar internet-based business for something else as regular a commodity as books. After getting hit with a $40 late fee for "Apollo 13," he decided movies was the perfect market.
[Fact 2: The 'Netflix and Chill' impact]
"Netflix and Chill" was initially a euphemistic phrase used by teenagers to invite someone over to watch Netflix with the intent of 'hooking up'. However, it soon gained popular acceptance and became a meme. This increased the brand's relevance in popular culture and contributed significantly to its current online presence and popularity.
[Fact 3: The Reed Hastings 'myth'
Contrary to popular belief, Netflix co-founder Reed Hastings did not come up with the idea for the service after being hit with a $40 late fee for forgetting to return a rented DVD of "Apollo 13". This was a story invented to explain the business model in simple and relatable terms.
[Fact 4: Netflix almost sold to Blockbuster]
In 2000, Netflix approached Blockbuster with a proposal to sell its company for $50 million. Blockbuster declined the offer. Cut to the present, and Netflix is now worth approximately $220 billion, while Blockbuster has essentially gone extinct.
[Fact 5: Pioneers of Streaming Content]
Netflix started streaming content online in 2007, making it one of the first companies to invest heavily in streaming technology. The company launched streaming to offer its users a 'Watch Now' option for viewing video content directly on their computers.
[Fact 6: Original Content Unleashed]
Netflix launched its first original content, "House of Cards," in 2013. This move shifted the overall paradigm for streaming services, proving they could create quality content - not simply distribute it. The success of "House of Cards" paved the way for other original series, such as "Stranger Things," "The Crown," and "Narcos."
[Fact 7: International Reach]
Netflix expanded its services internationally in 2010, beginning with Canada. Since then, it has expanded to over 190 countries. The only regions where Netflix is not present are China, North Korea, Crimea, and Syria.
[Fact 8: A Giant Content Budget]
Netflix has one of the biggest content budgets of any media company. In 2020, it spent over $17 billion on content production despite the pandemic. The budget has steadily increased as the platform continues to invest more in both licensed and original content.
[Fact 9: Netflix is a Data-Rich Company]
Netflix collects an incredible amount of data on viewer habits. Using this data, the company can make calculated content distribution and production decisions. For example, knowing that subscribers love Kevin Spacey and political thrillers, Netflix confidently spent $100 million on two seasons of "House of Cards."
[Fact 10: Unique Approach to Employee Paid Time Off]
Netflix maintains an unusual policy for salaried employees, who get unlimited paid time off. Employees can take as much time off as they want, provided their work is up to date and they are meeting their professional responsibilities.
[Fact 11: No Commercials]
Netflix's subscription based model allows it to be one of the only television networks that do not require commercials or advertisements during its programs, resulting in an uninterrupted viewing experience for subscribers.
[Fact 12: Netflix Debuts]
The first Netflix original movie was a documentary. "The Square," launched in 2013, was a political documentary about the Egyptian Crisis until 2013. This movie was also the first Netflix submission for the Oscars.
[Fact 13: Preference Algorithm]
Netflix’s recommendation algorithm drives 80% of content discovery on the platform. The algorithm is based on detailed user data, analyzing their search, watch, and rating patterns.
[Fact 14: Environmentally Friendly]
Netflix, being strictly an online service, boasts a relatively low carbon footprint compared to traditional television broadcasting, a claim underlined by its ability to reach millions of homes without the need for physical infrastructure.
[Fact 15: Award-Winning Content]
Netflix has been a key player at the Emmy Awards since 2013. By 2020, it had won 112 Emmy Awards for its original programming.
[Fact 16: 'Breaking Bad' Popularity Spike]
The popular series "Breaking Bad" saw a significant increase in viewership due to its presence on Netflix. Data shows that right after the previous seasons were made available on Netflix, ratings for the new season airing on TV also increased.
[Fact 17: Dolby Atmos Content]
Netflix was the first streaming service to provide Dolby Atmos audio content. This advanced form of audio technology gives a more immersive feel, previously only associated with high-end movie theaters.
[Fact 18: High-Profile Partnerships]
Netflix has inked deals with high-profile figures like Barack and Michelle Obama to produce exclusive content. The Obamas' production company, Higher Ground, has already produced an Oscar-winning documentary, "American Factory," for the platform.
[Fact 19: Massive Subscriber Base]
As of 2020, Netflix had over 200 million paying streaming subscribers worldwide. The United States accounted for over 60 million of them, making it the country with the highest number of Netflix subscribers.
[Fact 20: Bandwidth Consumption]
Netflix users consume 15% of the world's total bandwidth. This figure highlights the company's massive influence on global internet traffic patterns.