Netflix and Chill(ed) – A cultural takeover
This brand says DOUBLE…
There is quite a trend in the UK and around the world that is cutting the cable and having television and film content delivered solely via streaming services.
One study has also shown the number of Americans cutting the cord is expected to grow from 25.3 million in 2020 to 76 million in 2023. One of the ‘old timers’ in the streaming game is Netflix and they are not leaning on past successes. They are forging ahead with exceptional growth plans. With 158 million subscriptions worldwide, they are expected to close the year with upwards of 166 million subscribers.
While domestic growth has slowed, it’s their international growth that is causing Wall Street analysts to issue ‘buy’ recommendations for Netflix. Last year they had a 33% increase in international subscriptions – up to 98 million. In 2019, Netflix spent an unprecedented $15 billion on exclusive content. A great deal of this content is directed at foreign markets as they have developed programming in 29 different languages. Netflix is on course to double its subscriptions by 2025 with a focus on Latin American, European, Middle Eastern and Asia Pacific markets.
With domestic business in the USA still growing, albeit more slowly, the world markets are the new Netflix targets. If history is a guide, it’s best not to bet against Netflix. Ben & Jerry’s has even came out with a new ice cream flavour sealing the streaming service’s cultural impact – ‘Netflix & Chilled’ is now available to eat while you watch…
What does YOUR brand say?