Netflix was started when one of the co-founders had received a $40 late fee after failing to return a film on time. Now, Netflix is one of the fastest growing technology companies, reinventing the entertainment space by providing high quality content for low fees.
This is becoming an increasingly competitive space, with deep-pocketed rivals including Amazon, Disney, Apple and AT&T. They are all spending big on content and pricing cheaply in a battle to win subscribers.
After a dwindling number of subscribers due to tough competition in 2022, Netflix is focused and committed to improving its core service which is its TV, movies and now games going forward. Post-IPO funding of $183 million from Winslow Capital at the end of 2023 followed the previous year's dumping of shares by the same company after Netflix's first loss of subscribers. This capital indicates a shifting perspective on Netflix's outlook, which saw a year-end subscriber boost.
Steph
Company Specialist at Welcome to the Jungle