Enterprise Innovation and Markets Report Writing - Management Assignment Help

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Topic: Netflix: The Amazon.com of something…DVD’s? From its humble beginning as a DVD rental business, Netflix has certainly captured the imagination of millions of households around the world. The inspiration for its creation is not exactly clear with many stories circulating about the “Aha! moment” which lead to its formation. CEO Reed Hastings originally said he got the idea for Netflix after having to pay $40 in late fees for returning a movie (Apollo 13) late and realising there had to be a better way. Is this a myth? Many variations and motivations for its creation continue to circulate. Regardless of this, Netflix has had many iterations from its humble and simplistic business model to its current form as a streaming media giant within the “video-on-demand” (VoD) industry. “Netflix was originally a single rental service, but the subscription model was one of a few ideas we had — so there was no Aha! moment,” Reed Hastings (Co-founder) Founded by serial entrepreneurs Reed Hastings and Marc Randolph, Netflix continues to innovate and lead the space which has seen many entrants join the streaming space, including Hulu, Stan, Amazon Prime, HBO Now, Yahoo TV and most recently Disney+. These companies present as rivals seeking to take market share away from the company. From DVD rentals in 1998 to streaming in 2008 via the web, Netflix has refused to stand still. It’s DVD rental business via the US Postal Service is still going strong with over 3 million DVD subscribers accessing approximately 100, 000 titles. Surprisingly, the streaming service in the USA has only approximately 5,600 titles to choose from in comparison. What is next for Netflix?

TOPIC QUESTIONS: Upon reading the scenario above, research and prepare a written report that addresses the following: • How does Netflix make money? • Identify the Netflix business model; from inception to current model (streaming content utilising video streaming technology). • Where can Netflix take the business into the future? What are the possibilities? • How can Netflix remain relevant when so much competition provides consumers with choice? Consider content and programming aspects. • Critically analyse the marketing strategies and business decisions of Netflix that has allowed them to maintain their market dominance. • Evaluate the competitive threats to Netflix. Where might its greatest threats come from? 

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