Netflix Inc.’s Innovation and Its Diffusion Process
Video streaming services can be considered an integral part of the modern TV and movie industry as they guarantee people access to the content they want. Additionally, they provide options for customization and selection of products that are really interesting to people. For this reason, Netflix, as one of the leaders in the sphere, became one of the popular services that are adopted by multiple individuals today.
It offers a specific type of innovation presupposing that a person can have his/her own cinema at home. Moreover, instead of using the Internet to look for the demanded content, an individual can enjoy offered TV shows in HD quality. This innovation becomes especially topical in the age of cinema and its popularization. Netflix can also be characterized by the extremely high speed of diffusion. It was created in 1997, and its share was not high; however, with the rise of the Internet and technologies, it managed to transform into one of the popular services that are bought by people across the globe. The fans of TV shows and unique, high-quality content were among the first users who adopted the product and preconditioned its blistering rise.
However, there are people who still refuse to use services of this sort. They might have a poor understanding of new technologies or be not ready to pay for the content provided by the streaming service. Nevertheless, regardless of the existence of such cohorts, it is possible to predict the further rise of the company. First of all, it offers unique products that are available in HD quality, which is important for fans. Second, traditional TV becomes outdated, and there is a need for new options, such as those offered by Netflix. Finally, the development of technologies creates the base for the further evolution of companies like this one and their success.