Task 3: Success stories (U24: D1)

Prove to your account manager that you are able to understand and provide examples of successful media concepts that have been positively exploited across different media industries.

 

Learning Outcome 1 (U24): Understand the products that are produced within and across media industries

 

 

Pass	Merit	Distinction
		D1 (U24): Discuss how successful media concepts have been positively exploited across multiple media industries

 

The brand that I will be reporting on will be Netflix. Netflix is a streaming service where you can watch hundreds of films that belong to a variety of genres. It can be accessed on any digital device from Televisions, computers, ipads and phones. People from any country can access the streaming platform. Netflix offer a variety of subscription deals. Such as a standard deal with adds being £4.99 per month, Standard deal with no adds being £10.99 per month and the premium deal with no adds being £15.99 per months. This gives customers a variety of options which increases chances of people paying for the service and they are able to choose the subscription that suits them most.

Netflix provides a wide variety of films across different genres, which helps it appeal to a broad target audience. For example, horror fans might be attracted to films like Murder mystery or Scream, while comedy audiences may enjoy films such as Ted or Superbad. Similarly, action fans can watch films like Avengers, and younger or family audiences may prefer animated films like Toy story. By offering such a diverse range of genres, Netflix is able to target multiple audience groups at the same time. It supports this by creating a platform where users can personalise their viewing experience through recommendations, watchlists, and genre categories, allowing customers to easily access the type of content that suits their preferences.

Netflix is a cross-media company because it operates across multiple platforms and offers a range of different content formats. It provides films, documentaries, TV series, and animations, which helps attract a wide variety of target audiences with different interests. In terms of distribution, Netflix is accessible on televisions, smartphones, computers, and tablets, making it easy for users to watch content wherever they are. Additionally, Netflix uses social media platforms to engage with its audience, promote new releases, and maintain a strong connection with its customer base.

Source: Bankmycell.com

This graph shows how the number of Netflix viewers has changed from 2020 to 2026. Overall, there is a clear upward trend, with viewers increasing from around 540 million in 2020 to nearly 780 million by 2026. This suggests that Netflix is becoming more popular over time. One reason for this could be the rise in streaming as a main form of entertainment, especially with more people watching content online rather than traditional TV. Also, Netflix produces a lot of original shows and films, which helps attract new audiences and keep existing viewers interested. Furthermore it correlates with netflix's subscription buying increase which implies that overtime the number of netflix accounts worldwide has increased meaning the platform has become more accessible to more people meaning more people are able to watch it. 

2018	139.25 million
2019	167.09 million
2020	203.66 million
2021	221.84 million
2022	230.75 million
2023	260.28 million

Sources: Statista

The graph shows us the number of subscribers that netflix have had over the last 5 years. From 2021 till 2023, netflix have a received an increase of roughly 40 million subscribers. This is because netflix have expanded its content production into different regions such as Asia, Latin america and Africa attracting views in new regions which increases subscriptions. such as the series Squid games attracting plenty of new customers from Korea. Furthermore, in late 2022, Netflix decreased subscription deals which inevitably increased new customers because people were more satisfied with paying a cheaper subscription price which benefits those who are financial vulnerable. 

Netflix is known for being extremely accessible. It is accessible on a wide range of platforms such as smartphones and tablets, web browser, television and gaming consoles. furthermore it also has accessible features such as enabling subtitles, changing the language of audio to meet the needs of those with personal preferences as well as customized kids accounts with parental control to ensure safety and viewing of appropriate content. This contributes to netflix success because it improves inclusivity which leads to more subscribers because accessibility features such as subtitles and language settings allow people with disabilities and non-native language speakers to enjoy content. Additionally some people may only have access to a smartphone not a TV which means that they are still able to watch netflix due to wide range of accessible platforms to stream on.

Netflix subscribers belong to many different target audiences such as horror fans, comedy fans, children and adults. However netflix make sure they are reaching these audiences all the time. They reach these audiences through their content diversity. Netflix have a variety of genres such as horror, comedy, romance, action and thriller etc. Therefore Netflix ensure that they reach the fans of all these genres as each genre is accessible on the same platform. Furthermore, Netflix have specific sections for kids films so kids have a place to watch content appropriate for them as well as an 18+ section for adults who are looking for a content a bit more grown up. Additionally, people may be fans of particular types of content such as documentaries, tv series and individual films. Netflix have a specific section for all these forms of content as well as it being searchable in general. The reason why Netflix make sure they are reaching all their different audiences is because every customer has a personal preference of what content they enjoy watching, therefore Netflix ensures that there is always something enjoyable to watch for every single subscriber so they renew their subscription and Netflix can keep making profit. 

Netflix advertise their brand very well due to their large online presence. They have viral accounts on platforms such as instagram, twitter, tiktok and facebook. This is where they reach their audiences. Netflix use many methods in order to target their audiences. Netflix have many different audiences from different countries, therefore they have different handles to run region-specific marketing such as @NetflixBrazil or @NetflixIndia, to market the brand to these specific audiences where they have subscribed customers so they can keep these audiences engaged and solidify their brand preference. Furthermore, netflix collab with celebrities and influencers popular in specific demographics to advertise content. For example a Gen-Z focused influencer might promote a young audience targeted series on tiktok ot instagram because these two platform are what gen-z mostly use. making it a good way for netflix to reach this specific audience. whilst they might have adult celebrities advertising 18+ films on facebook to target a more grown up audience because facebook is a platform most adults tend to use, making it a good way for Netflix to reach this target audience.

Despite being extremely successful and popular in the video streaming industry, Netflix do have a few downfalls. Such as increasing subscription costs. Netflix have increased their subscription prices multiple times which has frustrated viewers. Competitors such as disney offer more affordable subscriptions which could attract more budget-minded viewers away from netflix which would damage customer retention. Furthermore, netflix tends to frequently cancel shows after a few seasons every so often which frustrates loyal viewers who will be tempted to move to a different platform that permanently portrays their favourite show, this can also damage customer retention if viewers choose to find alternative streaming platforms. Additionally netflix has lost the license of popular content such as friends, the office and greys anatomy who now belong to some of netflix's competitors. the popularity of these shows will tempt viewers away from Netflix to other platforms that stream it. Netflix has to rely on its own originals which can be hit or miss.

Another area of netflix that I would like to look it is their involvement in the gaming industry. In recent years, netflix has expanded their service into the gaming world by offering mobile games to subscribers as part of the existing subscription package. They are also developing cloud based games that are accessible on TV's and computers. Regarding the mobile games that will be free of charge. Netflix first released these mobile games in november 2021, starting with a stranger things themed game. These games are available on apple and android. netflix's strategy with the involvement of games is to keep viewers engaged and entatain between tv shows. This aims to improve customer retention.

Conclusion:

Coming to my conclusion we can see that netflix is a cross media platform due to its variety of content formats such as documentaries, series and films. To being accessible on multiple devices from ipads, laptops and televisions. Furthermore Netflix is also a part of the gaming industry as it offers mobile games through the mobile app, conveying that netflix isn't just a streaming platform it portrays elements of interactive media. Netflix appeals to different audiences due to its cultural diversity. Netflix invest heavily in local-language content such as squid games (korea) or money heist (spain) to ensure that the platform is enjoyable for audiences of different countries so everyone has something to watch and understand. Further in regards to content format people have different preferences. some people prefer series to documentaries or films to series. Netflix offers all these different formats to ensure that everyone has something to watch and enjoy.