This document provides a case study on Netflix that analyzes how Netflix has grown to become the most successful online streaming company through its use of various digital economies. It discusses Netflix's history from a DVD rental service to an online streaming platform. It then analyzes how Netflix leverages the digital, free, attention, subscription, and network economies to drive its business model and sustain ongoing success. Key points include how Netflix adapts to technological changes, uses free trials and data collection, produces original content, offers access through subscriptions over ownership, and leverages its large user network and data.

1. Netflix Case Study
Authors: Bethen Mitchell, Caris Hoskins, Saira Nasir, Charles
McGregor and Simon Blyth.
Curtin NET205
25 January, 2018.

2. Introduction
The Group 6 Team project is a Netflix Case Study, referencing the broader trends in online commerce with an Australian focus.
Netflix has grown over 20 years from a Subscription DVD business into an online streaming platform, which produces original and
distributes licensed content. Underpinning its growth is its ability to innovate and adapt and the use of its customer base and library
content to analyse big data.
It is our contention that "Netflix is currently the most successful online streaming company in the Digital Economy through
its use of the Subscription Economy, Free Economy, Attention Economy and Network Economy."
Figure 1

3. History of Netflix
“Netflix has been leading the way for digital content since 1997”
Netflix, 2018.
In 1997, Reed Hastings and software executive Marc Randolph co-founded Netflix to offer online movie
rentals and in 1998 Netflix launched the first DVD rental and sales website in the United States,
netflix.com.
In 2007 Netflix introduced streaming, which allowed members to instantly watch television shows and
movies on their personal computers. From that point onwards Netflix partnered with consumer electronics
companies in order to expand its userbase and compatibility. To further this growth, Netflix also began to
expand its services to other countries.
Netflix launched in Australia in 2015, paving the way by partnering with internet service providers Optus
and iiNet to provide its customers who subscribed with unlimited data on the entertainment streaming
services. Netflix was quickly able to establish a growing customer base due to its success in the US and by
providing consumers with a free month trial and a no lock-in contract.
The continued success of Netflix in Australia can be measured by their vast number of viewers, with Roy
Morgan’s poll claiming that as of September 2017, one in three Australians are subscribed to Netflix's
services (Roy Morgan, 2017).
At this point in time Netflix boasts over 117 million subscribers in over 190 countries across the world
(Netflix, 2018).
Figure 2
Figure 3
Figure 4
Figure 5

4. Netflix's Market Share
Despite not being the cheapest option Netflix continues to dominate the market.
The low price offered by Amazon has not made it much of a threat. Amazon has the fewest shows
available and is not compatible with smart TVs.
Competitors have differentiated themselves. Stan offers foreign and art films. Foxtel offers live TV.
Should consumer tastes change Netflix could lose subscribers.
Free to air programming in Australia must adhere to strict content quotas (Dunn, 2017). A certain percentage
of all content must be Australian. It is speculated that this legislation will apply to SVOD. This could lead to
a huge disruption to Netflix's operation while they scramble to adapt. The cost of these changes could
be reflected in the subscription price. Meanwhile Stan has plenty of Australian content already and
could become the dominant streaming service in the future.
Biggest competitors in the U.S. are:
 YouTube (53% of viewers)
 Amazon (33% of viewers)
 Hulu (17% of viewers) (Perez, 2017)
There are 117 million Netflix users worldwide (Netflix, 2018).
76% of U.S. stream viewers use Netflix (Perez, 2017).
$14.99
$15
$8
$10 - $39
Figure 6 (Campo, 2017)
Percentage of Market Share in Australia

5. How is Netflix so Successful?
Netflix led the DVD market with its visionary idea to express mail DVDs on a subscription basis, making it easier for the
customer to watch what they wanted and without charging late fees. Then, by using their large customer base and library
catalogue, they invested in the future and made the transition to digital streaming, again providing their customer with an
even more convenient way to watch content – 24/7 and at their convenience.
Digital technologies have made it possible for Netflix to innovate and evolve and create a business model that has seen it
grow into the world’s (and Australia’s) most successful online streaming company. Through partnerships with broadband
providers, to Nintendo and Apple the "interface between supply and demand based on volume and structure, on space and
time" (Nitescu, 2016) has created an opportunity for Netflix to interact with their customers, break down barriers and enabled
them to grow and ultimately sustain their business.
Netflix uses a data driven approach to analyse its business and it is the combination of this data, both user and catalogue,
together with cutting edge analytical techniques that has seen its business successfully grow and expand (Carr, 2013). To
give you an idea of the magnitude of this big data, Madrigal states that, “Netflix has meticulously analysed and tagged every
movie and TV show imaginable. They possess a stockpile of data about Hollywood entertainment that is absolutely
unprecedented" (Madrigal, 2014).
Adding to its streaming service in 2013, Netflix produced its first original series - House of Cards – and was confident it
would be a hit. By running analytics, Netflix discovered that their audience preferred to watch these three things: the original
BBC House of Cards series, Kevin Spacey in a leading role and David Fincher as a director (Rosewell, 2017). Subscribers
have found themselves binge-watching ever since. Not only that, by creating original content, the barriers associated with
ownership/copyright have been eliminated.
Our analysis of Netflix and the principles and practices which drive and sustain its ecommerce business have been
segmented and presented as individual topics - Digital Economy; Attention Economy; Free Economy; Network Economy;
Subscription Economy. Each subject contains examples of how the Netflix business model interacts within each concept of
ecommerce and contributes to its ongoing success.
An Introduction to Netflix's eCommerce business model
“Legendary Hollywood
screenwriter William
Goldman said “Nobody,
nobody – not now, not ever
– knows the least goddam
thing about what is or isn’t
going to work at the box
office.” He was speaking
before the arrival of the
internet and Big Data, and
since then, the streaming
movie and TV service
Netflix has based its
business model on
attempting to prove him
wrong.”
Bernard Marr

6. Digital Economy
The term ‘digital economy’ describes a variety of economic and social activities, all enabled by
information and communication technologies. This includes day-to-day activities such as banking,
buying, selling, accessing education and various sorts of entertainment all using the internet and
connected devices. These days, the digital economy is not separate from the economy itself and
impacts all industries and business types as technologies shift and consumers and industry alike
become more reliant on digital commerce trends (Australian Government, 2017).
For Netflix, whose focus is on providing consumers entertainment, this means keeping up with the
demand for and ever-changing varieties of video technology. In the past, this meant Netflix
changing their original business model of providing users with an online disk rental service to
predominantly online streaming services.
More recently, the adaption of technology and digital economy commerce trends has meant providing these streaming services on more
connected devices, including gaming systems like PlayStation and Xbox, as well as mobile phones and tablet devices. It has also meant
implementing download features to allow for 'offline' access. By making Netflix more widely available on a number of fronts, the company ensures
that consumers have access to their services no matter what form of technology they choose to use, and thus keeps them relevant in today's
society which relies on multiple forms of technology, sometimes simultaneously, on a day-to-day basis.
Netflix’s easy accessibility also marks the shift from traditional entertainment means, such as free-to-air or broadcast television, to on-demand
access. Reed Hastings the CEO of Netflix argues that this shift indicates that streaming television and movies, such which Netflix provides, will
remove the need for traditional methods and boldly states that "broadcast television will be dead by 2030" (as cited in Barr, 2015). Barr (2015)
argues the idea that this shift towards on-demand access will eradicate the need for traditional means, stating that studies show not all
households have access to broadband and accessible devices. In his conclusion, Barr summarises that while traditional entertainment methods
may not be ‘on the way out’ as some studies would have us believe, on-demand access like that which Netflix provides will become an integral
part of how consumers access entertainment and we may end up with a “set of complementary systems with a plethora of players in a new
media order” (Barr, 2015, p. 24). It is possible to conclude that Netflix, having the market share on this on-demand entertainment, will play a large
part in these complementary systems.
Figure 7

7. Free Economy
Netflix and their obligation-free one-month trial
Netflix offers potential subscribers ‘a free one-month trial’, without a lock in-contract, allowing viewers the opportunity to view their
catalogue and decide if they would like to subscribe. This obligation free service also addresses the issue of buyer’s remorse
(Terranova, 2000). As Netflix is the provider of a vast library catalogue, which no other provider (Stan and Foxtel) can match, this
is indeed an attractive offer. Additionally, due to low subscription fees, and the advantage of no disruptive advertisements,
potential customers who subscribe to other entertainment services may opt to subscribe to Netflix as well, creating business for
multiple providers.
By signing up for a free trial, the customer may believe they are getting something for nothing – especially if they are keen to
watch a program that is unavailable through another provider – as consumers of the Digital Economy expect this, given
businesses who provide ‘free services’ such as Facebook and Google have been around for a lot longer. But what many
consumers do not realize, is that their data is a valuable commerce tool and that Netflix uses this information to understand their
viewing habits (Marr, 2015). Unlike a traditional economy, in the free economy money is not exchanged for services, but
nonetheless a transaction has taken place.
Collecting user data to drive business
Netflix has millions of subscribers world-wide, whose data they collect, to predict possible future likes and interests based on their
preferences. Netflix uses recommender systems which analyse viewing habits and then fill in the 'blank spaces' which are not
represented by existing content (Carr, 2013). Much alike their customers, free-trial subscribers provide Netflix with analytical data
which benefits in building their business.
Free data caps
When Netflix announced its 2015 launch in Australia, it partnered with Optus and iiNet to provide free streaming (customers must
first subscribe to an internet providers business) - to boost its own subscriber base. Since then, this business arrangement has
changed, but as Anderson states, the cost of doing business online is getting cheaper and nowadays unlimited broadband data
plans are affordable (Anderson, 2008).
“The rise of
'freeconomics' is being
driven by the underlying
technologies that power
the Web….Which is to
say, the trend lines that
determine the cost of
doing business online all
point the same way: to
zero.”
Chris Anderson

8. Commerce Trends: Network Economy
The Battle for Your Eyeballs
Michael Goldhaber argued for a new way of thinking about the Net
as an Attention Economy. This is a move towards a wholly different
economy from the past era of factory based mass production.
Economies are governed by what is scarce, if the internet is
overflowing with information this cannot then be the resource that is
driving the economy. Goldhaber saw another resource flowing in the
opposite direction to information, which is an intrinsically scarce
resource, Attention.
Herbert Simon defined this as ‘a wealth of information creates a
poverty of attention’ (Crogan, Kinsley, 2012).
Consumers' attention is difficult to achieve, so becomes the incentive
that motivates the direction of the economy on the Net. The benefit of
gaining consumers' attention is the power to direct their actions
depending on how enthralled they are. Ultimately, if you have enough
attention, you can get whatever you want in the attention economy
(Goldhaber, 1997).
Attention Economy pt. 1
Figure 8
A snapshot of some of Netflix's competitors for consumers' attention

9. As a member of the entertainment business, Netflix is competing in a never ending
and ever-intensifying war for audiences’ limited time and attention. Netflix’s rivals in
this battle for attention include Facebook, Instagram, Google, Youtube, Snap,
Amazon and Disney who all use their own tactics in an attempt to wrestle audiences’
attention away from each other. From algorithms for recommendations, increasing
notifications and endlessly scrolling feeds each platform attempts to entice
consumers to spend more time each day with them.
This attention architecture has turned human distraction into its metric for profit
(Economist, 2017) This is evident with new media companies now valued more by
their users than revenue.
Netflix has devised its own attention architecture to monopolise consumers'
attention including personalised emails of recommended content, the original feature
of releasing all episodes at once to enable a complete series to be watched in one
sitting and the next episode in a series automatically starting after the previous
episode finishes. These attention seeking tools have entered the cultural lexicon
with the terms ‘binge watching’ and the exhausted late night cry of ‘just one more
episode’ used in response to the power of Netflix’s content over audiences.
Despite technology focused on gaining attention, Goldhaber argues it is difficult to
maintain consumers' attention by repeating what has been done before. The
Attention Economy, he argues is therefore based on endless originality. Netflix, a
participant in the attention economy understands this and spent $7bn USD on
content in 2017 (Economist, 2017). The quality and originality of its content is Netflix
ultimate weapon in the battle for attention.
Attention Economy pt. 2
The society we now live in is an
attention economy. Audiences
perform a central economic activity
while watching television, by simply
giving their attention to a chosen
media platform at a point in time. This
attention becomes a commodity
which is sold to advertisers. It has
been argued that this attention is one
of the most valuable resources in
modern day capitalism."
Zulli, 2017
Figure 9
An example of a Netflix personalised email

10. Subscription Economy
Consumers typically watch a video only a few times before getting bored of it. This would be fine
if videos cost a few cents instead of a few dollars.
Consumers don't want to deal with ownership but they do want access to content. With video
subscriptions there is no need to go out of one's way to buy goods and then having to hold
Those goods. These burdens are gone and consumers can get what they want when they
want. This business model is more prevalent than ever with worldwide subscription revenue
increasing 195% from 2000 to 2015 (Pattani, 2016). Video streaming has even remained
popular after the Australian government imposed GST on digital goods in 2015
(Simpson, 2017).
The Play store sells movies for about $5.99 (a TV series cost even more). Netflix Australia
Gives users access to 2933 movies and 875 TV shows (Just Watch, 2017). The cost of a
year's worth of Netflix can only buy 20 movies.
Purchasing digital content may require the user to store it themselves. This can be an unseen
cost. The Netflix Australia movie library requires 5 terabytes of storage space (Nations, 2017).
Consumers want more content for less money. The subscription model offers exactly what
consumers want. This is a huge part of what makes Netflix so successful.
“At the heart of the Subscription
Economy® is the idea that
customers are happier subscribing
to the outcomes they want, when
they want them, rather than
purchasing a product with the
burden of ownership.”
Zuora, 2017
Figure 10

11. Network Economy
Figure 11
"...with the algorithms, we can take any
piece of content and find the right
audience. It's a crucial advantage".
Brown, 2015
The network economy has seen a shift away from the industrial economy where ‘middle
men’ would facilitate transactions of value/goods/services (Cichorska & Klimontowicz, 2016).
A network economy instead relies on technology and utilising connectedness to share
human knowledge across online networks to facilitate transactions of value (Cichorska &
Klimontowicz, 2016).
Netflix has continually utilised the network economy to its advantage. As its network has
broadened – its value for consumers, production companies, telecommunication companies
and investors has increased concurrently. When Netflix first moved from DVD rentals to
streaming content, its existing network of customers provided the launch-pad the company
needed to get started (Barr, 2015).
As new technology developed, so did new opportunities to retrieve data from users. The
watching patterns and movie ratings of users became the company’s most valuable
resources – it could analyse the data and use it to predict viewing trends, anticipate which
content to invest in to receive the highest ROI, and partner with the right telecommunication
companies to best serve the consumer (Hallinan & Striphas, 2016).
To further benefit from the network economy, Netflix launched the ‘Netflix Prize’ in 2006 – a
competition promising a prize of $1million USD to whomever could increase the accuracy of
its existing algorithm by 10%. This competition saw more than 50,000 people enter
worldwide (Hallinan & Striphas, 2016). The wild success of the competition increased value
for users (who received a smoother and more personalised user experience as a result), the
participants (who connected with others and received a cash reward), and Netflix, who
received precious data and a more efficient way of operation – through the
interconnectedness of participants, and the sharing of knowledge, meaningful transactions of
value were facilitated in order to directly benefit the company (Hallinan & Striphas, 2016).

12. SWOT Analysis
https://www.theverge.com/2016/6/20/11979
948/netflix-new-icon-logo
Figure 12

13. The Future of Television and Netflix
The Platinum Age of Television
‘Broadcast television will be dead by 2030’
Reed Hastings, CEO and founder of Netflix, 2015.
Digital technology has revolutionised television, although not in the way it was anticipated. Originally, the technology was used to
improve picture quality which led to the creation of other possibilities including transmission. This was seen as the most important
development in Television since its creation (Given, 2014) The UK government described this as the first example of the full
potential of the information superhighway. The Australian communications minister in 1995 saw the television set as becoming a
central information point in every home (Given, 2014)
Netflix was at the forefront of this digital moment in media in the 21st century. By accelerating cross-platform accessibility allowing
its users to access its content by computer, television and mobile devices, Netflix has become a global internet TV network
(McDonald, 2016). However, the way Netflix has changed TV may lead to its downfall. The industry is now experiencing a rush of
competition from other media companies to copy it’s success and capture advertising revenue and consumer attention. Disney has
announced it will end its distribution deal with Netflix by 2019. Facebook will soon release a tab called Watch, inside its existing
platform to stream video series (Roose, 2017) Amazon’s online streaming service is expanding internationally and expected to have
40m users by the end 2016 (Economist, 2016) Netflix also faces growing competition from other established online streaming
services including, Youtube, Hulu, HBO and in Australia, Stan.
However there is a limit to how much people can consume and how many services they will subscribe to. Media analysts have
estimated that users will not subscribe to more than 4 or 5 services. This will lead to a battle to create and acquire the best content
to appeal to a sufficient number of subscribers. This will result in ever improving quality of content leading to a Platinum Age of
Television. Netflix must ensure that it remains one of the ‘must-subscribe’ platforms in the new era of television.

14. Despite Reed Hastings' prediction of the death of broadcast television by 2030. In reality, the next 10
to 15 years are likely to see a conglomeration of 4 – 5 online streaming platforms, live news and
sports broadcasters and free to air TV services still in operation. For Netflix to remain at the top of this
eco-system, it must create and maintain a virtuous cycle. This cycle involves growing its subscriber
base, which allows it to afford more content and as a result attract more subscribers. (Economist,
2016). The following are recommendations for Netflix to achieve this cycle.
Continue to grow subscriber base - Netflix has rapidly expanded internationally and now has over
117m subscribers in 190 countries. It must now look for a viable path into China, the world’s largest TV
market (Economist, 2016).This may come in the form of a joint venture with an existing cable TV
platform, as seen in the partnership with NOW TV in Hong Kong.
Review its subscriber policy - Currently Netflix allows a family of users to have individual access to
content by paying one monthly subscription fee. When these children become adults and move out of
home, they can continue to access Netflix under their parents’ account. Therefore population growth
does not create subscriber growth for Netflix (Gans, 2017) To avoid reaching peak subscribers, it
should review its access policy similar to internet service providers based on the subscriber’s IP
address.
Own more of its content rather than license it - The sci-fi drama series, Stranger Things is the only
Netflix owned hit so far, its other hits including House of Cards, Orange is The New Black and Narcos
have been licensed. While both options are expensive, owning its content avoids the need for Netflix
to enter a costly and unsustainable bidding war with other platforms for the best content (Hough,
2017). This would also secure the international rights to its content and avoid the possibility of
forfeiting this content to competitors internationally (McDonald, 2016)
Focus on local content - As Netflix expands internationally it needs to focus a percentage of its
content on local productions. This will aid Netflix in its competition with local online streaming
platforms. This will further endear Netflix to local governments and regulators and avoid unnecessary
taxes, production subsidies, laws or outright bans on the service (Economist, 2016).
Recommendations
Figure 13
Netflix needs more wholly owned hits like Stranger
Things to ensure future success

15. Conclusion
With reference to broader trends in online commerce, our group has
provided an analysis of Netflix.
This case study has demonstrated how the Netflix business model
encompasses elements of the Subscription Economy, Free Economy,
Attention Economy and Network Economy to make it the most
successful online streaming company in the market today.
As competitors rush to emulate Netflix’s success, it will need to ensure
its model is adaptable for continued success in the new era of
television.
Figure 14

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18. Appendix
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Figure 9
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Figure 10
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Figure 11
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Figure 12
https://www.theverge.com/2016/6/20/11979948/netflix-new-icon-logo
Figure 13
Stranger things, retrieved from https://members.sagfoundation.org/programs/8585
Figure 14
Netflix screen, retrieved from https://www.usatoday.com/story/tech/columnist/komando/2017/12/22/10-handy-things-you-probably-dont-know-netflix-can-do/971925001/