Netflix
Netflix was created in 1997 by Reed Hastings and Marc Randolph. It was created in order to allow people to rent and order DVDs through mail. This directly went against Blockbuster which allowed people to rent movies in-person. In 2007 streaming was introduced by Netflix and this slowly killed off the industry of renting movies. This became so popular because it was one of the first of its kind. People found it way easier to subscribe and stream TV shows and movies rather than renting them, whether it was in-person or online like Netflix started off doing. This aspect of entertainment was way more useful and practical which kicked the rental industry off to the side and later putting it out of business.
Many people became early adopters because they want to keep up with the trends. Netflix opened a brand new idea on how people can entertain themselves and everyone wanted to use it. Then, the Late Majority came along. This is when a majority of the population starts to hop onto the bandwagon and they buy a subscription to Netflix. Netflix definitely saw a boost in sales when the Late Majority came along. Same with the Late Adopters. These people may have waited a little longer for a vast amount of reasons but in the end they hopped on the bandwagon and joined the everlasting joy that Netflix offered. Lastly, are the Laggards. These people resist and hold off and they may never join the bandwagon. Whether it is because of financial problems or they just do not enjoy the idea, these people do not want any part in this innovation. There will always be people in every one of these categories no matter what new idea or innovation is created.
Netflix has some downsides that may contribute to Laggards' issues with the innovation. First, Netflix encourages binge watching shows. This platform makes it extremely easy for people to sit down and watch hours upon hours of entertainment without stopping. This company releases seasons of TV shows at a time instead of it being weekly. Netflix also does not offer the same material worldwide. Instead they make some content exclusive depending on where people are geographically. This may cause frustration if someone is not in a specific place that a movie or show is offered. These reasons may cause people, such as laggards, to not want to join the trend that is Netflix.
In my opinion, the positives do outweigh the negatives. First off, Netflix is way cheaper than cable and may even offer more content than cable ever has. Also, Netflix offers multi-platform use and people can access it through smart TVs, smart phones, computers, etc. Lastly, Netflix offers a wide variety of TV shows, movies, documentaries, and more that can entertain people forever. These benefits seem to make all the downsides minuscule and easy to look over.
Sources:
https://interestingengineering.com/the-fascinating-history-of-netflix
I also used knowledge learned in class
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