Let’s get to know the pioneers who challenged Blockbuster’s hegemony via their creative business ideas. This narrative is incorrect despite its emotional resonance. What is the history of Netflix, the world’s most popular internet streaming service?Īccording to some, Hastings got the idea for Netflix after being charged a $40 late fee for Apollo 13 by Blockbuster, the industry leader in home theatre rentals at the time. Great businesses have fascinating anecdotes about how their concepts came to be. Any good concept has the potential to disrupt the status quo when the internet is used as a tool. The adage “Necessity is the mother of innovation” has often been accurate. Due to social media and the explosive rise of streaming videos and TV, Netflix had to create a condensed and straightforward version of its brand that works well on all devices. Netflix felt the need to update its logo. In 2014, it had a revamp with a bolder appearance and no shadow. A shadow was added behind the word “NETFLIX” in 2000, simplifying the logo to simply letters. It appeared in a theatre because of the movie reel. Its primary areas of interest include internet streaming media, video on demand, and DVD delivery. Netflix, one of the biggest entertainment businesses in the world, was founded in California in 1997.
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