Netflix began in 1997 as a DVD rental service and has since expanded to become the world's largest online video streaming service. The paper discusses Netflix's history and strategic issues related to acquiring content from Hollywood studios. It also analyzes Netflix's general environment using Porter's Five Forces model. Key points include Netflix's challenges in obtaining content as studios try to protect DVD revenue and developing exclusive shows. The analysis examines Netflix's demographic, economic, sociocultural, legal/political, and technological factors.

1. TEAM FERRIS
Case Analysis
Contributing Members : Matthew Wendling, James O’Brien, Ryan Dietz, Katrina Laubach
11/19/2015

2. Strategic Issues andPurpose of Paper
The purpose of this paper is to discuss Netflix from the start of the company back in 1997
as a DVD mail service to now as the world’s largest online video service. This paper will
identify the advantages and disadvantages this company has and also some of the challenges and
opportunities this company will face. One of the strategic issues for Netflix is acquiring content
through licensing in Hollywood especially with the studios trying to protect their DVD revenue
stream or producing the content themselves (ex. House of Cards). Developing more content has
become more competitive with competition from HULU, HBO, Showtime and other online
videos service companies. Another strategic issue it has is its ability to deliver the stream
content do to net neutrality.
Company History
Netflix was founded in 1997 in by Marc Randolph and Reed Hastings, who previously
had worked together at a company called Pure Software. Hastings invested $2.5 million in
startup cash for Netflix. Interesting though Randolph initially had the idea to start a company that
sells something over the Internet, but just didn't know what at the time when he started Netflix.
The idea of Netflix came to Hastings when he was forced to pay $40 in overdue fines after
returning Apollo 13 past due. This gave them the idea to start their business as mailing rental
DVD’s. Netflix launched it’s website on April 14, 1998 which is important because it gave
Netflix access to a now worldwide and therefore diverse customer base even though they were
still a small business. Netflix at the time had 925 works available to mail to customers.

3. Netflix then launched there DVD mail service, the price to rent a DVD was 50 cents to
customers which at the time was cheaper than renting from a competitor at the time like
Blockbuster. In September 1999, Netflix introduced the monthly subscription model which led
Netflix dropping the 50 cents per DVD rental model in 2000. In the year 2000 Blockbuster had
the opportunity to buy Netflix for 50 million dollars but they did not. Now Netflix has a market
cap of 51 billion and a current cash balance of 1 billion dollars. Netflix later went on to become a
publicly traded company issuing its IPO on May 29, 2002. They issued 5.5 million shares at $15
per share with a total value of $82.5 million. Despite this, Netflix didn’t post its first fiscal profit
until 2003.
In February of 2007, Netflix delivered its one-billionth DVD and started shifting its key
business model of delivering DVD’s to online streaming. The company continued to grow its
business even though DVD sales fell from 2006 to 2011. This shows that Netflix anticipated the
drop in demand for DVD’s and adjusted to the new environment. In 2006 Netflix started to
distribute independent films which helped increase the content Netflix offered. In 2008 Netflix
made a four year deal with Starz to stream content that allowed Netflix to stream over 2,500
DVD’s. This deal tripled Netflix’s count of streaming titles giving customers greater value and
this deal gave Netflix greater publicity as well. In 2011 The U.S Postal Service announced they
were considering dropping Saturday delivery’s, while Netflix was concerned about this change,
it was later viewed as a positive because DVD rentals would eventually go down and therefore,
this policy from the U.S Postal Services would save Netflix money.
The company and customer base continued to increase until October of 2011. During this
month, Netflix announced dramatic price increase. Netflix announced that their DVD/Stream
plan that cost consumers $10 at the time was going to be raised to $16 dollars. This resulted in

4. Netflix losing 800,000 customers in the fiscal quarter alone. Netflix then offered customers to
pay just $8 dollars a month for exclusively DVD’s or the online streaming. On December 4,
2012 Netflix announced a deal with Disney that allowed Netflix to stream Disney content. The
deal with Disney also included the ability to stream new Disney movies when they are released
to DVD starting in 2016. Today, Netflix stands as the world’s largest online video streaming
service.
General Environment
Demographic Segment
The demographics of Netflix is extremely diverse. Netflix appeals to all age groups with
its wide variety of content. The Company is in over 50 countries however there is a weakness in
the distribution of customers. Netflix has over 60 million subscribers, but 40 million of those are
in the U.S making Netflix very reliant on one market in spite of being in many markets. The
income of the customers of Netflix is low to middle class because their plans are offered for $8 a
month while other content is at a higher price like HBO and Showtime charge 10 dollars. Cable
is another way to stream content that is a much higher price compared to Netflix. This gives
Netflix an appeal to people who enjoy watching TV or movies, but can’t afford cable or don’t
want to pay for it.
Economic segment
When looking at the economics affecting Netflix, the global economics must be factored
in. Although, the US economy specifically plays a crucial role due to the amount of customers
Netflix has in this market. When looking at the economy in the US, it’s important to overview

5. the income levels of the average citizen. Since 1999, the U.S median Income has fallen from an
approximate $57,000 to $52,000 in 2013 and now is rising back to $57,000 and that’s without
taken the factors of inflation. According to the CPI calculator, 1 dollar in 1999 is valued at 1.43
in 2015. The CPI calculation shows that while the income levels in today’s economy may be the
same as in 1999, the dollar’s value has dramatically declined since that time. This fall in income
level helps Netflix create an appeal for people who enjoy low cost content.
Sociocultural Segment
The sociocultural environment definitely plays in important role in Netflix’s growth as a
business. Many countries, especially the United States, put a lot of value into free speech. For the
U.S specifically, the right of the free of press allows Netflix to play all the content it wants. This
creates value for customers. However, if Netflix tried to establish itself in a country like North
Korea or China that heavily regulates speech, content, and the internet, it may be impossible for
Netflix to create value in those markets and succeed in them.
Legal/Political Segment
Netflix has become very political in recent years in order to protect its business interests.
Netflix established a political action committee (PAC) called FLIXPAC to finance candidates
that support Netflix’s agenda. Netflix’s agenda includes pro-intellectual property and anti-video
piracy agenda to protect its interests. Netflix has become more political because of laws as well
as proposals for law revisions. Examples of these would be the Stop Online Piracy Act, Protect
IP Act and Video Privacy Protection Act. The stop online piracy act was intended to combat
copyright infringement. The Protect IP Act is a senate version of the stop online piracy act. The
Video Privacy Protection Act was established in 1988, but recently, it has been proposed to enact

6. changes to better protect customer order rentals. The major legal issue facing Netflix is the
possible revisions to Net neutrality. Net Neutrality is a concept now that attempts to keep the
internet unregulated. Essentially, the law is designed to make sure broadband providers don’t
discriminate users of broad band. Now, net neutrality may be changed to allow broadband
providers to offer faster connection to content providers, Netflix had an issue with Comcast a
few years ago. The FCC released Open Internet Order which allows broadband companies to
prioritize internet traffic. Comcast was accused of purposely slowing down Netflix traffic.
Netflix agreed to pay Comcast to make the connection better. Essentially connection on Netflix
was slow compared to other content and Netflix accused Comcast of doing it purposely to get
Netflix to pay for the connection speed to be normalized. It has been described as Comcast
extorting Netflix.
Technological segment
Technological advances have made internet access more likely and cheaper. Nations in
places like Africa are beginning to develop broadband and invest in a computer and internet
infrastructure. As the countries develop this infrastructure, the amount of citizens using the
internet will increase. This increase in availability also increases Netflix’s potential market and
customer base. Netflix has developed new software algorithms in the hope of improving
customer’s broadband connections without the help of Comcast.
Global Segment
The United Nations declared that internet access was a fundamental right in 2011. When
the United Nations made internet access a right it called on all members to provide and maintain

7. internet accessibility to its citizens. Since this declaration United Nations members have invested
in better internet infrastructures around the globe.
Physical Segment
Netflix is headquartered in Los Gatos, California. California has constant earthquakes,
and other natural disasters which could lead to power outages, and structure damage. Netflix has
six servers in U.S. Three of which are located in California. If the servers in California stop
working due to an earthquake, the west coast could lose Netflix access.
Analysis of General Environment Using Porter’s 5-Forces Model
Threats of Entry
Threats of entry in the instant video streaming and DVD services industry are low. With
well established brands such as Netflix, Hulu, Amazon Prime and Redbox, it is difficult for a
new company to effectively break into the market due to high demands of capital. The amount of
content that is already available on the aforementioned video streaming suppliers is at an amount
where it wouldn’t be economically feasible for an upstart company to enter the market and
provide content that matches or surpasses what is already available. Although there may not be
many barriers to entry, the threat of new entrants isn’t something that is worrisome for Netflix
presently.
Bargaining Power of Suppliers
The bargaining power of suppliers is significantly high. While Netflix may have had and
still has, to some extent, power over suppliers with regards to DVD rentals, the suppliers

8. seemingly have the majority of the power when it comes to content that is available for
streaming. Due to the fact that there are numerous platforms with which to stream content, the
suppliers are able to negotiate higher prices for companies such as Netflix to pay. For example,
in 2011 Netflix paid $200 million for access to stream Disney films and TV programming for
only one year. Netflix has also paid $2 million per episode for the show The Blacklist and $1.35
million per episode for The Walking Dead. (“How Netflix Pays For Movie and TV Shows”) This
shows the enormous investment that companies are required to make in order to acquire content
that it can distribute to its consumers.
Bargaining Power of Buyers
The bargaining power of buyers is very high. Due to the existence of many comparable
competitors, consumers are able to dictate how Netflix prices their packages. This is the main
reason why Netflix tends to employ a cost differentiation strategy. If costs are too high in the
eyes of the buyer, they will move to another similar product such as Amazon Prime or Hulu.
Because of this, Netflix must continue to find ways to bring new content to its platform while
keeping costs as low as possible.
Threat of Substitute Products
The threat of substitute products is extremely high. With the advent of technology in
recent years, there are now more options than ever before for people who are deciding how to
pass their time. The movie retail industry has to deal with substitutes such as video games,
computers, cellular phones, and tablets, as well as all of the applications that are available on
those products. Most people still prefer attending the cinema to see a new movie rather than wait
for it to arrive via Netflix or other medium.

9. Rivalry
Rivalry in the movie retail industry is very fierce. Netflix has fended off attempts at its market
share from Blockbuster, who has gone belly up, as well as Wal-Mart, when they briefly
attempted to rent movies online, in its recent past. Now the likes of Amazon Prime, Hulu, HBO
Go, and other streaming sites are in a constant battle to put out the highest quality product with
the least amount of consumer cost. This has led to these companies creating their own in-house
content to differentiate from the rest of the pack.
Analysis of Key Competitors
Hulu
Hulu is a joint-venture that is owned by 21st Century Fox, NBCUniversal, and The Walt
Disney Company. (Hagey) Hulu was launched in 2008 as an internet video streaming service
that offered television shows and movies from networks owned by the same companies that
owned Hulu such as ABC, CBS, FOX, NBC, and Comedy Central among others. Hulu produces
revenue streams in two ways: by paid subscribers to Hulu Plus, which is Hulu’s premium
service, as well as paid advertisements on the website. The cost to consumers of Hulu is
comparable to Netflix at $8.99 per month. The inclusion of advertisements is a significant
difference from that of Netflix and Amazon Prime, as neither of those services have
advertisements. Hulu does also include a free service but its content is very limited.
Hulu remains small in significantly smaller in size compared to Netflix as well as being
smaller than Amazon Prime, however it benefits greatly from the backing of the traditional

10. television giants that own the company. Hulu’s continued growth goal is spurred by its
continuous increases in spending on content which has shown to have a positive effect on the
ever-growing subscriptions and advertising numbers. The last time Hulu disclosed its financial
information was in 2013 and they reported revenues of $1 billion compared to Netflix’s 2014
revenues of $5.5 billion. (Hagey) Hulu is planning to increase its spending on content to $1.5
billion this year which would be on par with Amazon Prime but only half that of Netflix.
(Hagey) The main strength of Hulu is the backing they have from traditional media outlets who
are satisfied that Hulu doesn’t train consumers to become used to watching television without the
interruption of commercials.
Amazon Prime
Amazon Prime is a video subscription service that is offered by Amazon for a monthly
fee of $99. They also offer a student price of $49 and both offers also come with free two-day
shipping when ordering goods from Amazon’s website. The content that Amazon provides is
fairly comparable to the offerings of Netflix with most of the same movies and television shows
being available on both platforms. Amazon, like Netflix, has shifted toward providing more in-
house programming in order to capture part of the market that Netflix has taken and iron grip on.
Amazon Prime is very secure financially with the backing of the mega corporation that is
Amazon. This enables them to have the financial ability to invest heavily into purchasing more
content, but as of yet they are still falling behind Netflix. In 2014, Amazon saw an enormous
growth in their membership base by 53 percent. (Cole) The main strategy of Amazon with
regards to Amazon Prime is driving up membership numbers because this drives up the number
of orders on their website. (Cole) The free-shipping offer with the membership has been a win-

11. win for both sides. However, Amazon Prime, itself, isn’t performing well financially. Amazon
has lost nearly $1 billion annually from the free shipment of items to Amazon Prime customers.
(Cole) Regardless, Amazon remains devoted to the video service and has plans to include
Amazon Prime Air, which is the use of drones for the delivery of packages, in future
memberships.
Internal Analysis ofNetflix
Netflix’s resources continue to grow. In 2014, Netflix reported revenues of just over $5.5
billion which was an increase of $1.2 billion from 2013. Netflix also doubled their net income
from $112 million in 2013 to $267 million in 2014. ("Netflix Financial Statements") These

12. increases can most likely be attributed to the quality programming that Netflix has been
producing itself during the past two years. Consumers have responded to their yearning to watch
Netflix’s content, as well as the fact that their shows are available with all the episodes in a
season at once, by increasing the amount of instant subscriptions. Netflix has also realized
tremendous growth in their earnings per share which has nearly tripled from 2013 to 2014 to
$.68 per share from $.28 per share. ("Netflix Financial Statements") These increases will only
work to increase investor confidence in Netflix stock. This is evidenced by Netflix’s stock price
rising from $51.87 per share on November 19, 2014 to $119.96 at the time of writing. (Yahoo
Finance)
The aforementioned financial numbers of Netflix only helps to increase their capabilities
for the future. Also helping Netflix’s capabilities for the future is the fact that at the time of
writing, Netflix is sitting on cash and cash equivalents of nearly $2.1 billion. ("Netflix Financial
Statements") Some of the capabilities of Netflix going forward is the expanded content that is
available to subscribers as well as an ongoing presentation of Netflix original shows. Netflix will
also be able to expand its reach overseas during the next couple years in order to realize greater
profits and expand their footprint in the video streaming industry. This will require a large
amount of capital, but Netflix is on the right path.
Netflix’s core competencies are innovation, resources, content availability, and renowned
self-produced shows. Netflix has been extremely innovative throughout its history. It was the
first well-known company to provide delivery service of DVDs to the homes of users in a very
quick and efficient manner. They were also very innovative in having the vision to realize that
the DVD was a dying storage medium and that the future was in the streaming of videos.
Resources are another core competency that allows Netflix to access a wide variety of markets.

13. These resources that Netflix have been growing will allow them to expand overseas in the future
as well as allow them to quickly change strategies if the market requires. Content availability
was a huge feature for customers that enjoy watching a show from start to finish as well as
having access to a large amount of movies and television shows. Netflix continues to provide the
most content for their subscriptions compared to their competitors. Netflix’s self-produced
content has been a huge success and is another of their core competencies. Consumers have
flocked to Netflix after their introduction of shows like House of Cards and Aziz Ansari’s Master
of None as well as rebooting shows that have been cancelled by other networks such as Arrested
Development.
SWOT Analysis
Netflix’s core strategy is to grow its streaming business both domestically and
internationally. Three of the company’s biggest strengths are its popularity, convenience and
competitive pricing. They finished their third quarter with 53.1 million members worldwide and
are still growing. (Napoli, 2014) Netflix is convenient because users can watch it on anything
that can connect to the internet, such as TVs, computers and even mobile devices. As far as
prices go, Netflix is cheaper overall when it comes to watching multiple movies or TV shows.
As far as weaknesses, Netflix has a declining DVD membership and also has not been
profitable in the international market as of yet. Prior to 2011 the streaming and DVD package
were combined, making it convenient for users to order as many DVD’s as they like. However,
now users must have a separate membership to get DVD’s. Three years after this change, Netflix
saw the number of original subscriptions just about cut in half. Despite this, the company still

14. remains profitable domestically, unlike their international market which still remains in the red.
In 2013 Netflix lost $274 million dollars from streaming internationally. (Napoli, 2014) Efforts
to continue internationally will most likely result in loss of profits in the years to come for
Netflix, but they’re prioritizing long term performance over short term profits.
Even though international business is a weakness for Netflix now, it is also an
opportunity for the future. Recently, the company’s streaming service has launched in France,
Germany, Austria, Switzerland, Belgium, and Luxembourg. This raised the addressable market
in Europe to over 180 million households. (Napoli, 2014) There is also a huge expansion
opportunity in China and India with 384 million and 81 million internet users respectively. (Hitt,
2013) Although they still have to consider the costs to expand and the entry barriers to new
countries. Another big opportunity that Netflix is already taking advantage of is its original
content. Netflix started producing their own shows which include House of Cards and Orange is
the New Black, which I know personally are very popular. Because it is completely exclusive to
Netflix, customers are more likely to stay with their subscriptions. There is a low entry barrier to
this market so it is liable that there will be an explosive growth in the industry, making it even
more competitive. To stay on top Netflix will have to keep their services simple and relatively
cheap.
There are many threats to Netflix that all fall under one category: increasing competition.
Some of the big competitors are Amazon Prime, HBOGO, Blockbuster Online and iTunes,
which all seem to offer different positives and negatives. The ease of users shifting their
spending from one provider from another also makes this market very competitive. In 2009,
Netflix declared that Redbox would be its number one competitor, allowing users to rent DVDs
for only $1. Another threat is Netflix’s suppliers. Because most of the suppliers currently

15. generate a significant portion of their revenue from DVD sales, they will continue to be reluctant
to allow immediate access and streaming rights to anyone. The key to staying on top of the
streaming industry is to make sure they have first access to upcoming movies being released
which is getting harder because of the legal barrier to gain rights from the movie studios.
However, if they could find a way around this it would make up for the decline in DVD-by-mail
sales.
Corporate-Level Strategy
Netflix’s mission statement that is provided on their website says; "Our core strategy is to
grow our streaming subscription business domestically and globally. We are continuously
improving the customer experience, with a focus on expanding our streaming content, enhancing
our user interface and extending our streaming service to even more Internet-connected devices,
while staying within the parameters of our consolidated net income and operating segment
contribution profit targets."
In October, 2011, co-founder and CEO Reed Hastings expressed a clear vision for the
future of Netflix: becoming the best global entertainment distribution service, licensing
entertainment content around the world, creating markets that are accessible to film makers, and
helping content creators around the world to find a global audience. Netflix referred to its brand
promise as a "quest": "We promise our customers stellar service, our suppliers a valuable partner,
our investors the prospects of sustained profitable growth and our employees the allure of huge
impact." (Netflix)

16. Netflix also published its company values which are as followed; judgment, productivity,
creativity, intelligence, honesty, communication, selflessness, reliability and passion. Netflix’s
goals for the future are to offer a wider variety of streaming movies and TV shows and to keep
their prices relatively low. As talked about in the SWOT analysis, Netflix is focusing on making
its own original series, with over 30 of them out now and more in the works.
Business-Level Strategy
Netflix has an integrated cost-leadership differentiation strategy because users get the
most for their money and it is user friendly. If users only want to watch one movie, Netflix
probably wouldn’t be their cheapest option. Users can buy one movie from iTunes for as little as
$3.99. However, if a user wanted to watch a different movie everyday Netflix would be their
cheapest option by far. Fifty movies bought on iTunes would add up to over $200, while the
same amount would cost only the monthly rate on Netflix, which is $7.99.
Netflix also has a very easy to use system. To sign up, all you have to do is make a
username and password and enter your credit card information. From there users can browse
movies and television shows easily by category. Users can even make recommendations to
Netflix for what shows they want to add. If enough people want something, Netflix adds it. The
only downfall to this is that Netflix doesn’t have a lot of newer movies that people want to
watch. This makes Redbox a top competitor because they have all newer movies readily
available to rent.
Netflix’s target market is broad because they want to target everyone and anyone that has
internet access and likes to watch television, which is essentially over half the world’s

17. population. Their market share is also significantly more than their competitors as seen in the
chart below from 2012.
(Paid Streaming Chart)
Recommendations
After analyzing the case, we have several recommendations that could improve Netflix’s
business. First, Netflix must invest money to improve their technology and the algorithms that
they have in place. Netflix has already begun working on developing a type of AI that would
recommend content for subscribers to watch based on what they actually like about their favorite
movies and shows. The current method can only recommend content based on what someone
previously watched. This new technology could greatly benefit their company. It will increase

18. user satisfaction, and provide more content for their subscribers to watch which better suits their
tastes.
Netflix could also look to air cable TV shows on the next day that they are aired, similar
to HULU. They could provide their users with access to their favorite shows, which are
broadcasted only on television. With this, they have the potential to bring in millions of new
customers. Many individuals want the ability to watch their favorite shows whenever they can,
but people have other obligations which interfere with the scheduled airing of that specific show.
If Netflix would partner with major broadcasting companies like CBS, TNT, TBS, ABC and
many others, they could put the shows that these companies play online through their website.
This would allow viewers to watch the episodes they missed on their own time, regardless of
when they aired on TV.
Another recommendation would be to offer more content to its users. Netflix is notorious
for having random low-budget movies that are not very good. If they were to provide more
Netflix Original shows, they could again increase their subscriber base. Shows like House of
Cards and Daredevil are extreme hits that people specifically purchased a Netflix subscription
for. If they offer more shows for its users to watch, they will increase the demand for a Netflix
subscription. They could also vertically integrate with a major movie studio, or cable television
broadcasting company. They tried something similar to this with the controversial movie “The
Interview.” Instead of offering this movie in theaters, Netflix picked it up, and streamed it online
directly. It was definitely a success, and Netflix could learn from this opportunity. If they were to
partner, vertically integrate, or acquire one of these movie studios, they could provide their users
with fresh content, at theater level quality, all for the price of a subscription, which is cheaper
than one movie ticket.

19. Epilogue
With Netflix’s success as the first online video streaming service, they have definitely led
the pack in this market. They currently have a market cap of $52 billion and a stock price of
$120.62 (Yahoo Finance) as of 11/18/15. When compared to Amazon, who has a market cap of
$311 billion, they seem like a non-contender. Well, Amazon only has one portion of their
company which is dedicated to online video streaming, whereas Netflix’s entire business model
centers on online streaming. Netflix is definitely a front-runner in this industry. Many
companies are attempting to compete, but Netflix still controls a majority of the market. Since
the publication of the case, Blockbuster has gone out of business. There are only a few DVD
rental companies available in the market these days. Almost all of the demand has shifted to the
online segment, which Blockbuster did not foresee. As stated previously, they had the
opportunity to buy Netflix for $50 million, but chose not to due to their inadequate visionaries
within their upper management. When Netflix CEO and Co-Founder went to a meeting with
Blockbuster officials, they proposed the idea for Blockbuster to purchase Netflix, and these
officials simply laughed in their face. I guess Netflix got the last laugh in the end.

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