Since starting its video streaming services in 2007, Netflix has successfully grown its business. By the end of 2016, it had nearly 94 million members globally?—?expected to reach 100 million mark during the frst half of 2017. Netflix video streaming consumes 37% of downstream internet bandwidth during primetime hours in the USA?—?far ahead of YouTube, Amazon and Facebook.
Netflix has become the defacto primetime entertainment on the web. It can be streamed on computers, mobile phones, tablets, smart televisions and video game consoles.
What’s the main message from the Netflix story till 2016? It is a rare company that could abandon its traditional successful business model?—?DVD-by-Mail distribution?—?and embrace a new business model with video streaming and become a leader. Past success is not guarantee of future success. Transformational leadership is about “preserving the core while creating the new” and Reed Hastings at Netflix has shown that perfectly thus far.