Although the company’s popularity is booming around the world, the United States continues to serve as the most important market with over 60 million paid streaming subscribers. Around 60 percent of U.S. based adults had a current Netflix subscription as of December 2018, and around 77 percent of all VoD users subscribe to Netflix. In addition to its massive user base, Netflix subscribers are quite attached to the service, with 59 percent of young users rating it as their most indispensable TV network. Given these staggering numbers, it may seem hard to believe that other companies could make their mark in the subscription video-on-demand (SVoD) industry, but Hulu and Amazon Prime Video, Netflix’s biggest competitors, have also carved out significant places in the market. That being said, far fewer people ranked Amazon Prime Video and Hulu as essential video services than Netflix.
One of the main differences between Netflix and its competitors is its massive wealth of original content. The company produced over 300 original content titles in 2017, a number which is only expected to expand in the future. The popularity of shows such as House of Cards, Stranger Things and Orange is the New Black have made original programming integral to the company’s continued success. Over a third of users state that original programs are their most enjoyed content on the entire Netflix platform, and over 60 percent of subscribers state that original shows are either very important or absolutely critical when it comes to their decision to use Netflix. In 2018, Netflix was the joint-highest rated TV network in the United States, with around 77 percent of respondents reporting positive opinions about the service. Consumers aren’t the only people showing their appreciation for Netflix’s content; the network was awarded 23 Primetime Emmy awards in 2018.
From the beginning, it was Netflix’s ability to adapt to changing technologies and consumer demands which made it so successful. This ability to adjust has continued in recent years with the success of the company’s original content and increased focus on providing content around the world. As long as Netflix can continue this trend of innovation, the company will remain an important voice in the entertainment industry.
