netflix-2020-goals and strategies

- goals, objectives and strategies -

2- Look out on the Internet to list Netflix contenders.

Netflix is the largest streaming service in the world with over 193 million subscribers (as of July 2020). But what’s their secret when it comes to product strategy? Netflix isn’t the world’s biggest streaming service for nothing. It is very hard for other companies and streaming services to copy what Netflix does and this makes it very difficult for competitors to compete. Netflix is a trusted brand. You can trust Netflix to keep your personal details private. Their brand promise is “movie enjoyment made easy” and they achieve this by providing viewers with personalized service and the freedom to watch on almost any device with an internet connection.

Gibson Biddle | Last Updated: October 1, 2020 | Product-Led Growth

1- What makes Netflix hard to copy according to G. Biddle ? 3 reasons

Netflix's 2020 Product Strategy

1. retention = "fidélisation
2. metric = criteria - engagement = customer engagement
3. monetization = make profit

Netflix’s product vision began with a simple goal – to get big on DVD. When Netflix started out, they were a DVD rental company and customers had DVD’s delivered to them via postal services. Then, the company’s vision evolved to become leaders in the streaming market. ‘Going digital’ enabled Netflix to expand worldwide. Having achieved all of the above, Netflix is currently placing a strong focus on original content. The product team at Netflix prioritize monthly retention(1) as the company’s high-level engagement metric(2) . The team prioritizes other metrics too, including growth and monetization(3) .

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7- What are Netflix current priorities and objectives?

6- How big has Netflix become thanks to this model ?

5- Was moving to online streaming a response to an internal factor or an external factor?

4- What's Netflix new business model ?

3- What was Netflix old business model ?

8- Dites-moi en français ce que vous en comprenez.

Go further : discover Netflix's SMART product strategy roadmap for the 4 quarters of 2020