Advances in Economics, Management and Political Sciences

- The Open Access Proceedings Series for Conferences


Proceedings of the 2nd International Conference on Financial Technology and Business Analysis

Series Vol. 73 , 05 March 2024


Open Access | Article

Leader in the Digital Entertainment Market: Netflix's Continued Success in a Fiercely Competitive Environment

Hengxu Fan * 1
1 University of San Francisco , 2130 Fulton St, San Francisco, CA 94117, United States

* Author to whom correspondence should be addressed.

Advances in Economics, Management and Political Sciences, Vol. 73, 61-65
Published 05 March 2024. © 2023 The Author(s). Published by EWA Publishing
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Citation Hengxu Fan. Leader in the Digital Entertainment Market: Netflix's Continued Success in a Fiercely Competitive Environment. AEMPS (2024) Vol. 73: 61-65. DOI: 10.54254/2754-1169/73/20231226.

Abstract

As one of the world's largest digital entertainment providers, Netflix plays a crucial role in the entertainment and streaming industry. This article analyzes the main strategies for Netflix's success by using market research data, financial data, and user behavior data. Through analysis, it was found that high-quality original works are the key weapon for Netflix to win. With the help of big data and algorithm analysis, Netflix is deeply loved by consumers. In addition, Netflix's globalization strategy has gained market recognition and allowed it to maintain a competitive advantage in the global streaming media market. This article also reveals some key insights and elaborates on the challenges Netflix is currently facing from competitors and changes in user behavior patterns. Despite facing increasing competition, Netflix is still able to maintain its leading position as a streaming platform, relying on its unique strategy and continuous changes based on users and the market.

Keywords

Netflix, Streaming entertainment, Big Data and Algorithms, Exclusive Original Content, Globalization

References

1. Netflix. (2023). About netflix. https://about.netflix.com/

2. Burroughs, B. (2019). House of Netflix: Streaming media and digital lore. Popular Communication, 17(1), 1-17.

3. Gomez-Uribe, C. A., & Hunt, N. (2015). The netflix recommender system: Algorithms, business value, and innovation. ACM Transactions on Management Information Systems (TMIS), 6(4), 1-19.

4. Amatriain, X. (2013, August). Big & personal: data and models behind netflix recommendations. In Proceedings of the 2nd international workshop on big data, streams and heterogeneous source Mining: Algorithms, systems, programming models and applications (pp. 1-6).

5. Stoll, J. (2023, February 24). Netflix global revenue by region 2022. Statista. https://www.statista.com/statistics/1090098/netflix-global-revenue-by-region/

6. Wang, Y., & Weng, X. (2022, June). Analysis on How “Globalization” Affect Netflix to Cultural Diffusion. In 2022 8th International Conference on Humanities and Social Science Research (ICHSSR 2022) (pp. 2082-2086). Atlantis Press.

7. Lotz, A. D., Eklund, O., & Soroka, S. (2022). Netflix, library analysis, and globalization: rethinking mass media flows. Journal of Communication, 72(4), 511-521.

8. Budzinski, O., Gaenssle, S., & Lindstädt-Dreusicke, N. (2021). The battle of YouTube, TV and Netflix: an empirical analysis of competition in audiovisual media markets. SN Business & Economics, 1(9), 116.

9. Havard, C. T. (2021). Disney, Netflix, and Amazon oh my! An analysis of streaming brand competition and the impact on the future of consumer entertainment. Findings in Sport, Hospitality, Entertainment, and Event Management, 1(1), 7.

10. Budzinski, O., Gaenssle, S., & Lindstädt-Dreusicke, N. (2021). The battle of YouTube, TV and Netflix: an empirical analysis of competition in audiovisual media markets. SN Business & Economics, 1(9), 116.

Data Availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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Volume Title
Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
ISBN (Print)
978-1-83558-319-7
ISBN (Online)
978-1-83558-320-3
Published Date
05 March 2024
Series
Advances in Economics, Management and Political Sciences
ISSN (Print)
2754-1169
ISSN (Online)
2754-1177
DOI
10.54254/2754-1169/73/20231226
Copyright
© 2023 The Author(s)
Open Access
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Copyright © 2023 EWA Publishing. Unless Otherwise Stated