MOST INNOVATIVE
COMPANIES 2017
7. Netflix
Netflix is an American entertainment company
specializing in online on-demand streaming video, as well as a DVD-by-mail
service in the U.S. Founded in Scotts Valley, California in 1997, Netflix began
its current subscription model in 1999. Now the company has over 93 million
subscribers in 190 countries. Most of the platform's available TV shows,
movies, performances, and documentaries are licensed from distribution
partners. But in 2011, Netflix began beefing up its original content, investing
in its own original series like Orange Is the New Black and political drama
House of Cards, as well as acquiring the rights to shows like Lilyhammer and the fourth season of Arrested Development.
Unlike traditional broadcasters, Netflix's goal isn't to appeal to as broad an
audience as possible, but to cater to niches and effectively give every slice
of the population a show or movie they can't live without.
Though Netflix is widely considered to be the
platform that is winning the streaming-video wars, it has not rested on its
laurels when it comes to improving the service for its more than 93 million
customers. In December 2016, it rolled out a major user interface upgrade,
replacing static poster images with custom-created preview videos that
automatically play when you scroll over a title card. The redesign, which
required a combination of creativity and data science insights, encourages
Netflix’s subscribers to serendipitously discover what to watch rather than
tediously browse its catalog and wonder if something is worth sampling. The
upgrade was a companywide effort that took nearly three years, demonstrating
Netflix’s commitment to standing out from competitors such as Amazon for more
than just content (though Netflix is planning to produce 1,000 hours of
original shows in 2017 and plow $6 billion into its library, numbers that far
outpace its rivals). The company also recently unleashed a download and go feature,
which allows users to watch shows offline, and expanded into 130 new countries.
Top
perks for employees:
One year of paid parental leave
DATA
COMPETITION
Amazon, HBO, YouTube, Hulu
PEOPLE
Ted Sarandos, Reed Hastings
VALUATION
$62.79 billion
PUBLIC OR PRIVATE
Public
STAFF
3,700
USERS
Over 93 million subscribers worldwide
HEADQUARTERS
Los Gatos, CA
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