Netflix Is King on the Online Movie
The Netflix Company was established in 1997 and is probably the most successful Dot Com venture to date. Following their IPO in 2002, they saw $6.5 million in profits from a revenue stream of $272 million in 2003. Since then, they have grown tremendously to today’s more then 10 million subscribers.
Netflix made renting DVDs, and now Blu-ray Discs, an online phenomenon. Consumers queue up for the upcoming releases of their favorite movies and either receive them by mail or over the Internet, as soon as they are released.
Another feature that has made Netflix such a hit is the online rating system, similar to Amazon.com’s, where users can rate and read each other’s reviews, as well as get suggestions for their next purchase.
Netflix has become the standard to copy, as Blockbuster, Hollywood Video and other brick and mortar video renters have all followed suit with online services of their own.
Netflix Is King on the Online Movie by Steve