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April 26, 2013

Netflix Flying High After Q1 Success Propels it Past HBO

by MalloryM

Netflix Flying High After Q1 Success Propels it Past HBO

This article discusses Netflix’s recent success in the first quarter of 2013, coming in at 29.17 million subscribers. It now has more subscribers than HBO, and it is trying a new strategy that is “largely defined by consumers.” As the chief content officer of Netflix puts it, “The goal is to become HBO faster than HBO can become us.”

Netflix is doing this by launching new original series like Hemlock Grove and House of Cards in addition to maintaining its traditional forms of content. This strategy plays off HBO’s success at creating its own original series and it seems to be working for Netflix too. A large portion of the new Netflix subscribers in the first quarter of this year signed on due to the new Netflix original series. 

Is this strategy sustainable? The answer appears to be yes, so far. Of the users who have signed up to watch the original Netflix series, very few have cancelled their accounts. However, only time will tell if the strategy is truly adding lasting value that customers are willing to pay for or if it is only a quick fix for the deeper problems that are plaguing Netflix.

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