Netflix is one of the most popular and successful streaming services in the world, with over 200 million subscribers and a library of thousands of movies and shows. But how much do you really know about Netflix? Here are five amazing facts about Netflix that you might not have heard of before.
1. Netflix was inspired by a late fee for a movie rental.
The idea for Netflix came to co-founder Reed Hastings after he had to pay a $40 late fee for renting Apollo 13 from a video store. He thought there must be a better way to rent movies without worrying about due dates or late fees. He teamed up with Marc Randolph, a former colleague, and launched Netflix as a DVD-by-mail service in 1998. The service offered unlimited rentals for a flat monthly fee and no late fees. Netflix later introduced its streaming service in 2007 and became the first true streaming service to be available as an app on multiple devices.
2. Netflix once offered to sell itself to Blockbuster for $50 million.
In 2000, Netflix was struggling to compete with Blockbuster, the dominant video rental chain at the time. Netflix approached Blockbuster with a proposal to sell itself for $50 million and become its online partner. Blockbuster rejected the offer, thinking that Netflix was not worth it and that online streaming was not a threat. Blockbuster later filed for bankruptcy in 2010, while Netflix continued to grow and expand its business. Today, Netflix is worth over $200 billion, while Blockbuster has only one remaining store in the world.
3. Netflix uses disguised warehouses and unmarked trucks for security.
Netflix still operates its DVD rental service. protect its inventory of over 5 million DVDs, Netflix uses disguised warehouses and unmarked trucks to store and ship its discs. The warehouses are located in nondescript buildings with no signs or logos, and the trucks are plain white or black with no markings. Netflix also uses code names for its titles, such as "Paddle" for The Hunger Games and "Racer" for Fast and Furious. This way, Netflix can avoid theft, vandalism, or sabotage from competitors or disgruntled customers. (Shut down this business on 29 Sep 2023)
4. Netflix monitors illegal downloads to decide which shows to purchase.
Netflix uses various methods to determine which shows and movies to add to its library, such as ratings, reviews, and user feedback. However, one of the most surprising ways that Netflix decides what to buy is by monitoring illegal downloads and piracy sites. Netflix analyzes the popularity and demand of pirated content in different regions and markets and uses that data to negotiate deals with content providers. For example, Netflix acquired the rights to stream Breaking Bad in the UK after noticing that it was one of the most pirated shows in the country.
5. Netflix saves its subscribers from 160 hours of advertisements per year.
One of the main advantages of Netflix over traditional TV is that it does not have any commercials or ads. This means that Netflix subscribers can enjoy uninterrupted viewing of their favorite shows and movies. According to a study by Cordcutting.com, Netflix saves its subscribers from 160 hours of advertisements per year, based on the average viewing time of 1.8 hours per day. That's equivalent to 6.67 days or almost a week of saved time. Imagine what you could do with that extra time.
These are just some of the amazing facts about Netflix that you might not have known. Netflix is a fascinating and innovative company that has changed the way we watch and enjoy entertainment. Netflix has also created some of the most acclaimed and popular original content, such as Stranger Things, The Crown, and The Queen's Gambit. Netflix has come a long way since its inception in 1997, and it will continue to surprise and delight us with its offerings.
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