Introduction

                                                                 History                                                                    

In 2022, Netflix reported the loss of subscribers for the first time in over a decade. In the first quarter, they estimated a 200,000 subscriber loss and are expecting a loss of 2 million subscribers in the second quarter of 2022. In light of these findings, the purpose of our report is to find how Netflix can turn around its losses and remain competitive in a very competitive industry. Through our research we have found that Netflix can do better by utilizing IS technology, enhancing the customer experience through new technology, as well as rethinking its business strategies such as subscription tiers and password sharing. 

 Netflix was founded on August 29th, 1997 in Scotts Valley, California by Reed Hastings and Marc Randolph. In 1999 Netflix began offering an online subscription service that mailed subscribers movies from their selection of titles that were on their site with prepaid return mail back labels. Netflix began with a monthly subscription price that allowed you to rent a limited amount of titles at one time depending on your plan.

As years went by and the popularity of the service grew, in 2007 Netflix began to offer streaming specific titles directly from the internet to your house. Netflix has seen great growth from its start and is one of the biggest streaming services in the world and a big reason for the demise of the brick + Mortar video store. As of 2021, Netflix has 11,300 full-time workers over 28 different office locations which span over 23 different countries. As of the third quarter of 2021 Netflix has approximately 214 million global paid subscribers, with over 17,000 movies and show titles globally at their fingertips. 

As Netflix focuses on making more Netflix branded content, in 2021 the library consisted of about 40% of Netflix original series as well as movies and documentaries. Some of Netflix's most popular original titles include Stranger Things, Tiger King, The Queen's Gambit, and The Witcher. All of these series have well over 50 million streams.