Download pdf
Netflix's Strategies, Innovations, and Challenges in Shaping the Future of Television Media
- 1 Curtin Singapore
* Author to whom correspondence should be addressed.
Abstract
This comprehensive article provides an in-depth analysis of Netflix's current strategy, revealing how it is making good use of data and algorithms to make decisions and looking at its potential to achieve a dominant position in the TV media industry. In particular, the article highlights Netflix's focus on original content production and its determined global expansion strategy, while also pointing to the key role of digital technology in shaping its business model. However, the article also identifies potential weaknesses in these strategies, particularly in addressing the challenges of global expansion and user experience. The article also discusses in detail the impact of Netflix's strategy on the Korean media industry, as well as user dissatisfaction with increasing content cancellations and complex narrative structures. Ultimately, the article highlights that the key to maintaining a competitive edge and continued dominance in the ever-changing television media landscape lies in the use of constant innovation and a personalised approach, and that Netflix must continue to adapt to the needs of different markets, balancing its global appeal with a local flavour, to ensure its future success.
Keywords
Netflix, global expansion, digital technologies
[1]. Iordache, C., Raats, T., & Mombaerts, S. (2022). The Netflix Original documentary, explained: global investment patterns in documentary films and series. Studies in Documentary Film, 1–21. https://doi.org/10.1080/17503280.2022.2109099
[2]. Leyda, J. (2017). Financial Times: Economic and Industrial Temporalities in Netflix’sArrested Development. Television & New Media, 19(4), 345–360. https://doi.org/10.1177/1527476417742973
[3]. van Es, K. (2022). Netflix & Big Data: The Strategic Ambivalence of an Entertainment Company. Television & New Media, 24(6), 152747642211257. https://doi.org/10.1177/1527476422112574
[4]. Kurti, E., Salavati, S., & Mirijamdotter, A. (2021). Using Systems Thinking to Illustrate Digital Business Model Innovation. Systems, 9(4), 86. https://doi.org/10.3390/systems9040086
[5]. Lobato, R., & Lotz, A. D. (2020). Imagining Global Video: The Challenge of Netflix. JCMS: Journal of Cinema and Media Studies, 59(3), 132–136. https://doi.org/10.1353/cj.2020.0034
[6]. Allegretti, S., Seidenstricker, S., Fischer, H., & Arslan, S. (2021). Executing a business model change: identifying key characteristics to succeed in volatile markets. Leadership, Education, Personality: An Interdisciplinary Journal. https://doi.org/10.1365/s42681-021-00020-x
[7]. Kim, T. (2022). Cultural politics of Netflix in local contexts: A case of the Korean media industries. Media, Culture & Society, 44(8), 016344372211119. https://doi.org/10.1177/01634437221111917
[8]. Huang, Y., Lv, Z., & Sui, Z. (2021, October). Where Should Existing Video Streaming Platforms Improve: A Comparative Analysis of Netflix and IQiyi. In 2021 International Conference on Public Relations and Social Sciences (ICPRSS 2021) (pp. 585-592). Atlantis Press.
[9]. Leyda, J. (2017). Financial Times: Economic and Industrial Temporalities in Netflix’sArrested Development. Television & New Media, 19(4), 345–360. https://doi.org/10.1177/1527476417742973
Cite this article
Xi,Q. (2024). Netflix's Strategies, Innovations, and Challenges in Shaping the Future of Television Media. Communications in Humanities Research,27,246-249.
Data availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
Disclaimer/Publisher's Note
The statements, opinions and data contained in all publications are solely those of the individual author(s) and contributor(s) and not of EWA Publishing and/or the editor(s). EWA Publishing and/or the editor(s) disclaim responsibility for any injury to people or property resulting from any ideas, methods, instructions or products referred to in the content.
About volume
Volume title: Proceedings of the 2nd International Conference on Interdisciplinary Humanities and Communication Studies
© 2024 by the author(s). Licensee EWA Publishing, Oxford, UK. This article is an open access article distributed under the terms and
conditions of the Creative Commons Attribution (CC BY) license. Authors who
publish this series agree to the following terms:
1. Authors retain copyright and grant the series right of first publication with the work simultaneously licensed under a Creative Commons
Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this
series.
2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the series's published
version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial
publication in this series.
3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and
during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See
Open access policy for details).