G5-Reed Hastings, Netflix: Stanford GSB 2014 Entrepreneurial Company of…
G5-Reed Hastings, Netflix: Stanford GSB 2014 Entrepreneurial Company of the Year.
Annual ENCORE Award
in Silicon Valley since the late 1970s
by the Bay Area Chapter of the GSB Alumni Association
the entrepreneurial company of the year
which demonstrates the spurt innovation and culture of the companies.
The first honor was given to the CEO of ROLM Corporation in 1977.
designed to honor an individual
was changed in 1982
has been widened to recognize best in class entrepreneurs from throughout the world.
Netflix got 2014 ENCORE award for the most entrepreneurial company of the year.
Why could Netflix win the award
An Emmy-award winning content company when he first started Netflix in 1997.
Their constant reinvention and entrepreneurial spirit.
Netflix has gone through many iterations to where it's gotten now to where it is now.
A classic example of a serial entrepreneur.
The name of the award is the Entrepreneurial Company of the Year.
:star:The entrepreneur of the year award
Use differential information to promote that series to the right people
Creating consumption and enjoyment of content.
Tend to trust the artists more.
Tend to work by the freedom and responsibility model.
Netflix was launched on 14 April 1998 with only 30 employees and 925 DVDs available through the pay-per-rent model with rates and due dates that were similar to its bricks-and-mortal rival, Blockbuster
In 2007, Netflix expanded its business with the introduction of streaming media, while retaining the DVD and Blu-ray rental service
Hastings sold Pure Atria to Rational Software Corporation in 1997
The company expanded internationally, with streaming made available to Canada in 2010 and continued growing its streaming service from there; by January 2016, Netflix services operated in over 190 countries
Netflis is an American entertainment company founded by Reed Hastings and Marc Randolph on August 29, 1997, in Scotts Valley, California
In 2013, Netflix expanded into film and television production as well as online distribution
Netflix entered the content-production industry in 2013, debuting its first series, House of Cards.
Netflix released an estimated 126 original series or film in 2016, more than any other network or cable channel
As of October 2017, Netflix had 109.25 million subscribers worldwide, including 52.77 million in the United States
Netflix's headquarters are in 100 Winchester Circle, Los Gatos, California, United States. They have also other offices in the Netherlands, Brazil, India, Japan, and South Korea
Reasons why Netflix succeed !
Think Recurring Income
As long as a business is giving the customer something they want, subscription-based buyers will stay on board.
The fruits of this business model were shown recently when Netflix was able to raise their prices by just a $1 a month, but have an outsized impact on their profits.
Learn From Others
Reed Hastings learned from AOL, who was slow to adapt to the development of broadband – and suffered as a result.
Think Strategic Partnerships
Strategic partnerships can be a win-win for both sides
For Netflix, a partnership with Apple is one such example.
Netflix allowed the owners of the Apple TV set-top box to sign up for Netflix directly.
Add Value For The Customer
One of the reasons that Netflix has proven to be so popular is, well, they are so good at giving the customer exactly what they want!
Hastings has noted that the real secret to Netflix’s success is that it adapts to its user.
comparison with Youtube
not for free
make their own video
high quality videos (4k)
Record the videos you have watched
If you didn't finish watching a video, the system would remind you to finish it next time.
You can only watch videos
All of the videos are legal
Advertisements will show up before most of the videos start
Record the videos you have watched
Only video suggestions
You can upload your own videos
There are many illegal videos