Wednesday, October 28, 2020

Blog post #8: Diffusion of Inovations

The timeline I decided to write about is Netflix because I find it so interesting how quickly it picked up from DVDs being mailed to your house, to the first widely known streaming service that we use every day. 

1997-1998 - PIONEERS: Netflix was originally founded in 1997 but the website did not officially launch until 1998 and at this time there were 925 titles available for rent, but you paid by the movie that you rented, and late fees applied. 



2000 - EARLY ADAPTERS: Netflix pitches their "monthly subscription" concept and they offer themselves to BlockBuster for $50 million, but blockbuster turns it down. At this time also, RedBox was founded which gave Netflix more competition. At this time, they were still growing though, and were gaining more subscribers and attention. 



2003 - EARLY MAJORITY: In 2003, Netflix reached 1 million subscribers to their website and had reached 4.2 million subscribers by 2005. 




2007 - LATE ADAPTERS: In 2007, Netflix changed its website into a streaming platform, which not only began the start of streaming platforms but also changed the game and started the phenomenon of "binge-watching".



2020 - LAGGARDS: There are currently 78.03 million subscribers to Netflix nationally and over 160 million international subscribers and Netflix and other streaming services have become so popular that many people across the globe have begun to cancel cable and satellite tv. 


Over the past 20 years Netflix has completely swept the globe off their feet and changed the world of streaming and watching tv and movies forever. 

All information was found here



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