Netflix on the run for another hit this year.

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The American content platform and also production company, Netflix now has a total of 195 million paid users worldwide and still counting. 

Netflix’s main business deal is a subscription – based streaming service which offers an online streaming service. The company since its inception in August 29, 1997 has been entertaining it’s users with a pack of movies, documentaries, music, library of quality TV shows including those produced in-house.

The company was founded by two great guys who seek to expand their ideology into reality, Marc Randolph and Reed Hastings. Hastings (Co-CEO) is the current chairman of Netflix while Marc (Co-CEO) is the company’s COO. The industry they created is in the aspect of technology and entertainment, mass media.

Marc Randolph and Reed Hastings. The founders of Netflix

People got more of Netflix in 2016, when the company released an estimated 126 original series and films. Their effort to produce more new content, secure the rights for additional content. The company through this was able to diversify through 190 countries which resulted in the company racking up billions in debt. The risk in business, Netflix announced yet another $2 billion in debt money to aid them to produce new content. 

Prior to their risk, Netflix is now the largest entertainment/media company in the world by market capitalization.

Their hit became even more glorious when the virus hit the world. People were confined to their homes, isolated and kept secret for their health. Bored at home, many people find it very advantageous to keep up with entertainment. The better way to entertain yourself then was Netflix. In 2020 alone, the company had a total of 195.15 million subscribers globally, with the U.S accounting for over 73 million subscriber base.

Source:

Wikipedia 

Statista.com

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