When you think about binge-watching movies, series, cartoons, and TV shows you think of Netflix. The phrase “binge-watching” has never been as overly used with anything as much as it has been with Netflix.
But that was not always the case. Netflix went through some violent and difficult times. Pushing what was seen as a ‘radical idea’ back then was far from easy.
In this article we’re going to look at the “Netflix motto” to understand what the company stands for and how they were able to introduce an extraordinary idea to the world, changing the way people consume video content and entertainment.
What’s in a Motto?
A motto is a phrase that captures the beliefs or ideals guiding an institution, organization, family or individual.
This is different from a slogan or a tagline as these two are memorable phrases that are meant to grab the attention of the audience or market a campaign. Whereas a motto encapsulates a brand’s values.
Netflix’s Motto is “To Entertain The World.” This can be seen in their homepage along with their entire mission and vision statement.
This is the why behind their brand. It shows that Netflix is focused on creating and delivering quality stories that its viewers will love. They believe that if they can entertain a worldwide audience, then their viewers will keep coming back for more. This is why they invest so much in original programming and why they continue to produce some.
Netflix and Its Original Business Model
Blockbuster Video has been an integral part of the entertainment scene from the ‘80s to the early ’00s. For the younger readers of this article, Blockbuster Video is a company that purchased movies in bulk to rent them out to people around the world. Blockbuster was huge back then, but it had its shortcomings, one of which is that you would have to drive to a physical store to rent a movie.
This is where Netflix saw an opportunity. When Netflix began in 1997, its original business model was to rent movies using the internet and mail DVDs to its customers. This is a tad bit similar to Amazon’s approach and how Jeff Bezos changed the way book readers acquired or books in the early 90s.
However, the road was never easy for a company that originally focused on DVD rentals. Aside from being involved in lawsuits and other battles with Blockbuster, Netflix had a hard time getting and keeping customers in the very beginning and this resulted in debts piling up.
However, Netflix was able to adapt and use technology to its advantage.
You might have experienced Netflix’s impeccable services and how it is able to recommend shows that you could watch next. This is the product of Netflix being able to use algorithms to understand what you would like to watch next and optimize your viewing experience.
Netflix was able to pull its initial business model apart and build a new one from the ground up. They completely left their DVD sales business and pursued a subscription-based model which we all know contributed to their iconic success.
To Entertain the World
Following their company motto, which is “to entertain the world,” Netflix knew that quality content is the holy grail to their success. Quality content will make their services more desirable, and as other companies are starting to imitate their business model, quality content will set them apart from their competitors.
Netflix began to make many deals with companies to build up their offering, however, it became obvious that if they want to sustain the quality of content they were giving, then they would have to start making their own shows and movies.
This was a brilliant move on Netflix’s part as they began creating content for every viewer around the world. You have “Orange is the New Black,” “Stranger Things,” “Bridgerton,” “Squid Game,” “The Witcher,” “Umbrella Academy,” “Kingdom” and more.
From Pioneer to Powerhouse
Netflix pioneered online streaming and normalized it as a way of consuming commercial content. Unlike YouTube, the content the company made and its popularity encroached on Hollywood’s ‘territory’ because now, they’re giving people access to movies and original content whenever and wherever they wanted.
Everyone is becoming aware of the movement and the trend. What Netflix created as an effective business model and those who are not ready to adapt, will die out.
Now, traditional media companies such as Disney, HBO and even Amazon, have branched out and created their own subscription-based streaming services.
Netflix is now worth over $100 billion dollars and although they continue to face new challenges, it is driven by its motto and would do anything to jump-start its growth to provide the world with the best entertainment and viewing experience.