– Reed Hastings, pictured, and Marc Rudolph, two software engineers, founded Netflix in 1997 to use the Internet to rent movies on DVD, then a new format. (An old, discredited story
claims that Hastings had the idea after Blockbuster charged him a $40 late fee for “Apollo 13.”) Rudolph left in 2002.
1999 – A brief history of Netflix – In 1999, Netflix adopts a monthly subscription model: unlimited rentals for a single monthly rate.
2006 – In 2006, the company announced the $1 million “Netflix Prize,” encouraging people to come up with a better algorithm than its current recommendation system, which was gummed up by divisive movies such as “Napoleon Dynamite.” Three years later, the prize is claimed by a seven-man team, though Netflix never used their idea.
2006 – Netflix also broadcast a fourth season of “Arrested Development,” the Fox series that went off the air in 2006. The Netflix season, which premiered May 26, 2013, is 15 episodes and — if anything — even more intricate than the original network run.
2007 – Netflix moved into streaming in 2007. By now subscriptions were increasing by leaps and bounds: Three years later, the service had topped 20 million subscribers.
2011 – In an attempt to split its DVD and streaming businesses, Netflix created Qwikster for DVD distribution in 2011. Within a month, consumer protests prompted the company to drop the idea.
2012 – “House of Cards” isn’t the first original show to debut on the service. “Lilyhammer,” starring Steven Van Zandt as an American gangster in Norway, premiered February 6, 2012, with all eight episodes available for streaming right away — a distribution arrangement the company does for many of its series.
2013 – “Orange Is the New Black,” about the inmates of a women’s prison, premiered July 11, 2013. Netflix said in November that it was the service’s most-watched original series. The first season received 12 Emmy nominations. The second season premiered June 6, 2014.
2014 – Siblings Andy and Lana Wachowski, who created the “Matrix” movie trilogy, are at work on a Netflix series called “Sense8.
2015 – More Netflix Originals, Narcos, Daredevil, Jessica Jones, Master of None, Unbreakable Kimmy Schmidt
2016 – Many Comedy Specials and Originals including Luke Cage, The Crown, Stranger Things, Fuller House
2017 – More Originals, Chef’s Table, Grace & Frankie, Ingobernable
And that’s how Netflix went from a DVD rental company to Media Powerhouse. However, there are 2 most important things that we haven’t really looked at yet that made all the difference in the world for Netflix, 1. Culture 2. Technology. Netflix developed a unique culture
that is ingrained in their interviewing process to developing products. Netflix took advantage of hardcore software and hardware engineering capabilities that many Broadcasters lack, including better codecs, content delivery networks built from scratch to offer the best video playback experience and extraordinarily simple user experience (UX) designs on all of their apps.
More in Part 2…