Netflix : advertising & marketing assignments

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Streaming media service Netflix has set about overturning the traditional hierarchy in global media. Originally launched in 1997 as a mail order DVD rental company, it reinvented itself in the late 2000s as an internet broadcaster streaming on-demand movie and TV content to monthly subscribers. Its most significant breakthrough was the move into proprietary content, commissioning high-quality scripted drama and comedy - including the series House Of Cards and Orange Is The New Black - available exclusively to its own subscribers. As a result, it became the main global rival to Time Warner-owned HBO, far surpassing that mainly US-based service by 2015. Netflix's now-massive commissioning budget for new content - around $8bn in 2018 - puts it on a par with the biggest traditional Hollywood studios. At the same time the company has expanded its global footprint, initially in Latin America and then Europe and Asia, to cover 190 global markets. By the end of 1Q 2019 it had almost 149m streaming members worldwide, more than half of them now outside the US. Revenues for 2018 were $15.8bn, with net income of $1.2bn. However, several challenges lie ahead, not least the global launch of Disney's own streaming service in 2019, that will deprive Netflix of some important content, including major Disney, Marvel and 20th Century Fox movies, as well as a similar service from Apple with proprietary content. Co-founder Reed Hastings remains CEO. According to company legend, he first decided to launch the company after he was fined $40 by original video rental giant Blockbuster for the late return of the movie Apollo 13. Ted Sarandos is chief content officer, responsible for commissioning new content.

Capsule checked 17th April 2019

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Recent stories from Adbrands Weekly Update:

Adbrands Daily Update 7th Mar 2019: Kelly Bennett resigned as chief marketing officer of Netflix after seven years in that role, ever since it launched its streaming service. He plans to stay until his successor can be appointed.

Adbrands Daily Update 25th Feb 2019: Netflix failed to secure what would have been a historic Best Picture Oscar for 'Roma', but that film's three wins - Director, Cinematography and Foreign Laguage Picture - plus another Oscar for 'Period End of Sentence' in Documentary Short, represent a coming of age for the streaming industry. Those four awards put Netflix on level pegging with established giants Disney, Fox and Universal, who also each collected four Oscars. This was the first year that Netflix, Amazon and Hulu all had Oscar nominations, though Amazon and Hulu both went home empty-handed.

Adbrands Daily Update 18th Jan 2019: Netflix disappointed investors in the final quarter with lower than expected revenues and falling profits as a result of higher expenditure on content. The best growth came from international markets where paid members surged by 40% to almost 81m, compared to a lift of only 11% in the US to 58.5m. For the year, revenues were up 35% to $15.8bn while net income more than doubled to $1.2bn.

Adbrands Weekly Update 18th Oct 2018: After a disappointing set of numbers for 2Q, Netflix bounced back strongly in the latest quarter, disproving gainsayers who had suggested the company's performance (and stock price) had peaked. The company exceeded even its own forecasts for 3Q, adding almost 7m subscribers globally to reach a total of over 137m, of whom almost 79m were outside the US. Profit for the quarter soared threefold to $403m on revenues up 34% to $4.0bn. Revenues from international subscribers exceeded domestic for the first time at $1.97bn to $1.94bn.

Adbrands Weekly Update 20th Sep 2018: HBO continued to dominate the Emmy Awards in 2018 with 23 awards, but for the first time in 17 years it was not the outright champion, matched by Netflix, also recipient of 23 trophies. That represented a major victory for the streaming service, which could now surpass HBO next year following the anticipated end of long-time awards-magnet 'Game of Thrones'. That series was the single most awarded show with nine trophies; but Amazon's superb 'Marvellous Mrs Maisel' and NBC's 'Saturday Night Live' were close behind with eight apiece. Mrs Maisel was Amazon's first Top Show at the Emmys, and also the first winner of Best Comedy Series from a streaming service. In addition, its star Rachel Brosnahan becomes the first new winner of Best Comedy Actress for seven years, ending the extraordinary run by 'Veep's Julia Louis-Dreyfus. Last year HBO won 29 Emmys, and Netflix took home 20.

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