Not so much a single innovation as the successful application and extension of an innovative business model, Netflix has impressed by building on what it already had. Taking advantage of the growing digital economy, it’s changed the way television, in particular, is accessed and absorbed
Reinventing the way the world consumes film and television, Netflix found a niche part of the market where many had assumed few options remained. In 16 years, the company’s innovative business plan has seen it attract over 50 million members. Admirably, the firm has relied on a fluid business model, allowing a variety of changes to its streaming services. Netflix has recently turned content creator as well as distributor, and hosts content in different geographies and markets.