Success Story of Netflix

Change is the only constant thing’ and this also applies to our watching habit/entertainment industry, which is being shaped by technological developments for years. The process of change is getting much faster in the era of the internet or the interactive internet commonly known as internet 2.0. In this article, we are going to talk about a revolution brought by an over-the-top platform making the best out of internet 2.0. That platform is none other than the very famous online streaming platform Netflix. It is an over-the-top (OTT) platform which streams movies, web-series and TV programmes. Netflix has over 150 million subscribers worldwide. 

It has a content of 36,000 hours which increases daily, meaning if a person streams day and night continuously then it takes 1500 days to watch all of its content. 

Netflix in the early days

Netflix founded in 1997 in Scotts Valley, CA by Reed Hastings and Marc Randolph as a pay per rental of flat-rate DVD’s model through mail at $.50 a rental, with no late fees. It started with 30 employees and 925 titles. Founder Reed Hastings got the idea for Netflix after Blockbuster charged him a $40 late fee for Apollo 13. In 1999 Netflix started subscription-based service in which the customer paid for a certain level of membership that determined how many DVDs could be rented at one time. DVDs were mailed to the customer and then returned by the customer when they had completed viewing. Blockbuster and other vendors would rent video tapes to homeowners who would need to return them or incur a late fee.

Videotapes were later replaced with DVDs but the model of rental remained the same. Netflix introduced a business model in which DVDs were mailed to subscribers and there were no late fees. Viewers no longer had to go to a store to get the disc. The convenience customers were provided by Netflix and the new business model in which they waived late fee and mailed DVD was their first major step which made a difference between amazon, blockbuster and other vendors who were in the same business. Netflix which started with 925 titles in 1997 increased to 35,000 titles and 1 million subscribers in 2005 and in 2009 they had 10 million subscribers and 100,000 film titles. The streaming option began in 2007, with 2,000 titles available for instant-watching via streaming and around 20,000 titles in 2010.

Internet 2.0 and Netflix 

Amid this, a big transformation took place by means of internet 2.0. In 2005 Youtube launched and other video streaming services too were growing faster due to high speed internet. People began shifting from DVD to online streaming. According to trend, Netflix moved into online streaming but it did not have content. Moreover, large media companies would not agree to license their popular movies and TV programmes on attractive terms. This led to poor content on Netflix. Considering the problem Netflix decided to produce its own content according to consumer needs and preferences. In 2012, there were over 23 million subscribers for streaming and around 120,000 titles available for online streaming. 

Netflix began to produce its content from 2013 starting with three Netflix original series- House of cards, Orange is the new black and Hemlock grove. The number of original series/titles by Netflix is 850 which contains 19000 hours of content (total hours of content is 36000) means more than half of the content of Netflix is original. This huge amount of original titles is for a reason because Netflix knows that in future there is no scope of cable TV and everyone will have to stream online. Despite huge success, Netflix is currently running in loss because it spent more than it gets. They spent $12 million in 2018 and $15 million in 2019 on original content.

These original contents are way more engaging than any blockbuster movie. Around 70% of Netflix subscriber watch series on Binge-watch means they watch full season in just one sitting. And due to not having commercials it saves time and users can’t get annoyed by advertiser’s inappropriate content. Being the largest streaming service, Netflix knows what type of content and folks people want to see or they can pay to see that. They have the data of who is watching what. A survey found that 57% of subscribers are paying only to watch original content.

Key points of success of Netflix

1. Investment in streaming process – “For every additional dollar invested in new streaming content, Netflix brought in 4 subscribers more” 
2. Continuous Service Improvements – Enhancing member’s retention and satisfaction by refining the user experience (i.e. minimizing loading and buffering times) 
3. Expanding Internationally – International expansion strategy is costly because Netflix not only invests in improving user interfaces but also in setting up new online infrastructure outside the United States

The strategy adopted by Netflix that leads to success 

1. Providing customers with a wide selection of DVD titles to view
2. Frequently acquiring new content by establishing relationships with entertainment providers 
3. Provide easy to use technology for customers to use to order and identify what they wish to view 
4. Providing options for subscribers between streaming and mail services 
5. Aggressive spending on marketing to continue to raise brand awareness 
6. Promote rapid transition of the US subscribers to streaming 
7. Expand Internationally

Also Read: Success Story of Spotify

Netflix current situation 

1. Netflix streamed 1 billion hours weekly worldwide 
2. Over 150 million subscriber base
3. Has a market value of above 50$ billion 
4. Currently owns 60% share in streaming worldwide 
5. Considered the most successful startup in the world 
6. Its shares sell around 490 dollars per share 
7. Netflix consumes 15% of the world’s internet bandwidth

Life Story of Dr. Vivek Bindra

Vivek Bindra is one of the finest leadership coaches in India. He is the founder and CEO of
Bada Business.com. He is also a leadership consultant, motivational speaker, and business
coach. He has proved that anyone can run a business, and harness entrepreneurial skills. . His
leadership programmes have instilled great enthusiasm amongst entrepreneurs, who started
new ventures. His entrepreneurial vision has inspired many young leaders.

He is known to be one of India’s best leadership consultant and business coach. He is an inspirational guide
to many entrepreneurs today. He has been awarded an honorary PHD degree. He is also an
advisor to the biggest corporates in the country. He has also provided leadership training to
the top 100 CEOs in the country. He has been titled as the best leadership trainer in Asia
Award by Marshall Goldsmith at the HRD Congress.

EARLY LIFE of Dr. Vivek Bindra

Leaders are not born but self-made with dedication, and hard work. Even to DR. Bindra,
success wasn’t served on a platter. He went through several rough patches before becoming
the successful businessman we know of today. He was born on 5th April in the year 1982 in
New Delhi. He completed his schooling from St. Xavier’s Senior Secondary School, New Delhi,
and did his MBA from Amity Business College Delhi. He also received an honorary PHD degree.

Tough childhood

Contrary to the life he lives today, DR. Vivek Bindra ad a tough childhood. At an age where he
should have been playing and exploring the world around him, he spent his days earning an
extra income to support the family. As a child he used to sell dictionaries on the street to
make ends meet, spending this amount on school fees and studies. At the age of 16 he used
to give tuitions to children. He also learnt business nuances at a very early stage in his life,
and always had the spark to achieve great milestones in life. He always dreamt of studying
abroad, but because of ad dearth of funds couldn’t. This did not deter him from achieving
great heights in life.

Establishment of global act

Dr Bindra started his own company in the year 2012. He started this company to train people
who wanted to do business, but lacked the skill set and means to do so. Through his company
he wanted to empower such people. As everyone faces up and downs, so did he. He had to
start his company from a small room, in between there were times when the company went
into losses, his contracts got cancelled, payments were either delayed or got cancelled. In
order to pay his employees, he sold his house.

He never gave up in life. Even during the darkest of times, he did not give up, and took utmost
care of his employees. He even got a job offer of Rs. 2.5 Crore, but he refused it and continued
to run his company. His initial training fees was 1.25 lakh, which he thought was too expensive
so he reduced it to Rs. 19000 for a small business man an Rs. 9000 for students.

THE JOURNEY FROM 4 VIEWS TO MILLION VIEWS

He launched his very own YouTube Channel, but he did not get enough clicks and views. In
his initial videos, he merely got four views. Tis did not deter him from making more videos.
Today his channel has almost 12 million subscribers on YouTube.

Also Read: THE SUCCESS STORY OF NETFLIX

IMPACT OF BHAGWAT GITA ON HIS JOURNEY

When in college, one of his professors gave him the Bhagavat Gita. The Gita has a huge impact
on his life. Through his seminars he always preached about how the Gita could be viewed as
a source of inspiration. The Gita taught him how to bounce back in life, and not give up. Apart
from this his success is due to his hard work, dedication, and strength to bounce back.

Today because of his entrepreneurial training programmes, many people have realized and
accomplished their entrepreneurial dream. When he reached the lowest point in his life, he
gave up and took retirement, and during these times he imparted the teachings of the Gita in
schools and colleges. His guru told him that he shouldn’t give up, and that he should get back
to running his business. After bouncing back, he resumed his business again, which is doing
exceptionally well today.

DR. Bindra’s success today is a result of immense hard work, dedication, and strength to
bounce back. Today, many young entrepreneurs have taken inspiration from his programmes,
and have fulfilled their entrepreneurial dream.

Nadia Chauhan, CMO & JMD of Parle Agro Biography

Nadia Chauhan is a passionate and dynamic leader who serves as the Chief Marketing Officer & Joint Managing Director of Parle Agro – one of India’s top FMCG companies. She is a beacon for progress within the organization, managing various departments across the business, including marketing, sales, and innovation. A seasoned professional with over two decades of experience in multiple industries, she has been highly appreciated for her strategic vision and creative approach to problem-solving.

Prior to joining Parle Agro, Nadia held senior leadership roles at PepsiCo India and Eureka Forbes, where she pioneered several initiatives that helped drive business growth. She holds an MBA in marketing from Indore University and loves exploring new avenues to make a difference in people’s lives through her work.

In addition to her professional career, Nadia is also an active contributor to social causes. She founded ‘Parle Ek Prayas’, a corporate CSR initiative that focuses on providing access to educational resources for underprivileged children in India. Under the banner of this initiative, she has also sponsored several scholarships that have enabled promising students from less privileged backgrounds to pursue higher studies.

Nadia is a recognized thought leader within the industry and continues to be a source of inspiration for aspiring women professionals everywhere. Her hard work and dedication have seen Parle Agro reach heights unimaginable for most FMCG companies in India today.

Nadia Chauhan’s Success Story

In recent times, we have seen the uprising of a number of women entrepreneurs who battled all sorts of odds in this male-dominated world and carved a niche for themselves in their respective domains. Today we are going to talk about a young woman entrepreneur who has single-handedly transformed the complete outlook of a four decades old FMCG company. We are talking about none other than Nadia Chauhan, CMO & JMD of Parle Agro. The idea of launching Appy Fizz in 2005 gave her the first-mover advantage and since then Parle Agro has been dominating the carbonated fruit drink segment. 

Over the past four years, Appy Fizz has witnessed a growth rate of 70% and of CAGR of 36%. Parle Agro doubled its turnover to Rs 5,000 crore over the past years. And by means of Appy Fizz and Frooti, it aims to double the turnover by 2022. All the credit for the phenomenal success of Parle Agro goes to 34-year-old Nadia. The FMCG giant has gone from Rs 250 crore to Rs 5,000 crore in almost one and a half decades. Before Appy Fizz, in the packaged format, the apple category was not available. From a technology and manufacturing point of view, it was huge innovation and took its time to make a mark. 

Today it’s possibly India’s fastest-growing beverage brand. In the mid-1980s, Parle Agro was formed out of the break-up of the food and beverage company Parle Products. Nadia is the daughter of Prakash Chauhan, Parle Agro’s Chair. From a very young age, she was accustomed to the organization’s operations and took an official position with Parle Agro in 2003. Before this, once Nadia entered the conference room in her father’s office for a meeting with their advertising agency to discuss a teaser campaign for the Frooti brand. Everyone was surprised to see a little girl walk in. She was only 11 at the time.

Also Read: Success Story of Vivek Bindra

Spent numerous afternoons after school with the sales team

Mentored by her father Prakash Chauhan, Nadia spent numerous summer afternoons after school sitting in trucks with the sales team. She would go from shop to shop to analyze how their products were doing. This prompt start made her comfortable enough to believe in her instincts and take bold business decisions that line up with Parle’s growth plan.

When she joined the business, one of the challenges that she faced was that a very large percentage of the company’s turnover was coming from Frooti, one single brand, operating in a single country. Frooti offered over 90% of Parle Agro’s revenue, which allowed Nadia the liberty to experiment in not just new brands but also new segments. In 2005, the company introduced Appy Fizz, thereby making a new sparkling fruit drink segment and consolidating the Parle Agro portfolio.

At that time, her main agenda was to take the company from a single brand focus to a multi-brand and multi-category focus. Since 2009, Parle has broadened its horizons into new beverage brands such as LMN, Appy and Grappo Fizz, all new products in their segment. This focus on innovation is what makes Parle Agro a success story. 

When Nadia thought of launching the baked snack Hippo in 2009, it was the only contender in the health snack segment. The strategy worked well for Hippo. In just two years, it became third in market share, after Kurkure and Bingo. 

Parle Agro’s diverse portfolio consists of fruit-flavored carbonated drinks (Appy Fizz), carbonated coffee (Café Cuba), fruit-flavoured still drinks (Frooti and Appy), and packaged drinking water (Bailey).

Most of these makeovers have been a straight result of Nadia’s creativity. Take for instance Frooti Fizz, the carbonated form of the popular mango drink. Remarkably, Frooti Fizz and alike carbonated drinks signify a step in the direction of Nadia’s vision of regaining Parle Agro’s past supremacy by efficaciously moving back into the soft drink market.

The journey from Rs 300 crores to Rs 5,000 crores

When Nadia became a part of the company, Parle Agro had revenue of just Rs 300 crores (about US$43 million). However, with the introduction of new products and categories, that has risen by a factor of at least 10, with some evaluations signifying it’s grown to Rs 5,000 crores (about US$712 million).

She is driven by the thrill of the dynamic FMCG industry. The rapid change in strategy, pace and the constant challenges the industry poses is what fascinates her the most. It motivates her to think harder and do better. 

Talking about her role model, her professional role models have been her father and her husband, Raj Kurup, founder and chief creative officer, of Creative Land Asia. 

After becoming a mother, things changed for her but post-delivery, she was working from home within a month. And when she had meetings, her one-and-a-half-month-old daughter, Nia, would be there with her. Nadia takes her to work and Nia stays there the whole day in a nursery.

On account of her contributions to work, she has been listed as Most Powerful Women in Business, Forbes India’s Tycoons of Tomorrow, and Impact Magazine’s Most Influential Women in 2018. She’s spoken at events celebrating female empowerment. Apart from this, her story as part of a powerful business dynasty has been documented in the book “Daughters of Legacy” by Rinku Paul and Puja Singhal. 

In her personal life, Nadia is a voracious reader. Also a fitness freak, she loves exercising and horse riding. She has a deep interest in playing acoustic guitar.

Over the past four years, Appy Fizz has witnessed a growth rate of 70% and of CAGR of 36%. Parle Agro doubled its turnover to Rs 5,000 crore over the past years. And by means of Appy Fizz and Frooti, it aims to double the turnover by 2022. All the credit for the phenomenal success of Parle Agro goes to 34-year-old Nadia. The FMCG giant has gone from Rs 250 crore to Rs 5,000 crore in almost one and a half decades. Before Appy Fizz, in the packaged format, the apple category was not available. From a technology and manufacturing point of view, it was huge innovation and took its time to make a mark. 

Today it’s possibly India’s fastest-growing beverage brand. In the mid-1980s, Parle Agro was formed out of the break-up of the food and beverage company Parle Products. Nadia is the daughter of Prakash Chauhan, Parle Agro’s Chair. From a very young age, she was accustomed to the organization’s operations and took an official position with Parle Agro in 2003. Before this, once Nadia entered the conference room in her father’s office for a meeting with their advertising agency to discuss a teaser campaign for the Frooti brand. Everyone was surprised to see a little girl walk in. She was only 11 at the time.

Spent numerous afternoons after school with the sales team

Mentored by her father Prakash Chauhan, Nadia spent numerous summer afternoons after school sitting in trucks with the sales team. She would go from shop to shop to analyze how their products were doing. This prompt start made her comfortable enough to believe in her instincts and take bold business decisions that line up with Parle’s growth plan.

When she joined the business, one of the challenges that she faced was that a very large percentage of the company’s turnover was coming from Frooti, one single brand, operating in a single country. Frooti offered over 90% of Parle Agro’s revenue, which allowed Nadia the liberty to experiment in not just new brands but also new segments. In 2005, the company introduced Appy Fizz, thereby making a new sparkling fruit drink segment and consolidating the Parle Agro portfolio.

At that time, her main agenda was to take the company from a single-brand focus to a multi-brand and multi-category focus. Since 2009, Parle has broadened its horizons into new beverage brands such as LMN, Appy, and Grappo Fizz, all new products in their segment. This focus on innovation is what makes Parle Agro a success story. 

When Nadia thought of launching the baked snack Hippo in 2009, it was the only contender in the health snack segment. The strategy worked well for Hippo. In just two years, it became third in market share, after Kurkure and Bingo. 

Parle Agro’s diverse portfolio consists of fruit-flavored carbonated drinks (Appy Fizz), carbonated coffee (Café Cuba), fruit-flavoured still drinks (Frooti and Appy), and packaged drinking water (Bailey).

Most of these makeovers have been a straight result of Nadia’s creativity. Take for instance Frooti Fizz, the carbonated form of the popular mango drink. Remarkably, Frooti Fizz and alike carbonated drinks signify a step in the direction of Nadia’s vision of regaining Parle Agro’s past supremacy by efficaciously moving back into the soft drink market.

The journey from Rs 300 crores to Rs 5,000 crores

When Nadia became a part of the company, Parle Agro had revenue of just Rs 300 crores (about US$43 million). However, with the introduction of new products and categories, that has risen by a factor of at least 10, with some evaluations signifying it’s grown to Rs 5,000 crores (about US$712 million).

She is driven by the thrill of the dynamic FMCG industry. The rapid change in strategy, pace and the constant challenges the industry poses is what fascinates her the most. It motivates her to think harder and do better. 

Talking about her role model, her professional role models have been her father and her husband, Raj Kurup, founder and chief creative officer, of Creative Land Asia. 

After becoming a mother, things changed for her but post-delivery, she was working from home within a month. And when she had meetings, her one-and-a-half-month-old daughter, Nia, would be there with her. Nadia takes her to work and Nia stays there the whole day in a nursery.

On account of her contributions to work, she has been listed as Most Powerful Women in Business, Forbes India’s Tycoons of Tomorrow, and Impact Magazine’s Most Influential Women in 2018. She’s spoken at events celebrating female empowerment. Apart from this, her story as part of a powerful business dynasty has been documented in the book “Daughters of Legacy” by Rinku Paul and Puja Singhal. 

In her personal life, Nadia is a voracious reader. Also a fitness freak, she loves exercising and horse riding. She has a deep interest in playing acoustic guitar.

In recent times, our fascination towards supercars such as Lamborghini, Ferrari, Audi, Mercedes, Jaguar and many others have increased manifold. However, they cost a fortune due to which not everyone can afford such beasts. For many years, this remained a major problem due to which people started looking for an alternative to have these supercars at an affordable place. Today we are going to talk about a firm which established itself as the solution to this problem. We are talking about none other than Gurugram based Big Boy Toyz.

The company has two main outlets; one is a 36,000 square foot showroom located at Hero Honda Chowk, Gurugram. The other outlet is a 5500 square foot glittering studio located in Sultanpur, New Delhi. By means of an ambitious expansion strategy, Big Boy Toyz is slated to further strengthen its position as the biggest name in the Indian luxury car market. Big Boy Toyz caters to a niche target audience. Its founder Jatin Ahuja has been remarkable to the company’s success in selling pre-owned luxury cars.

Importers of many firsts in India

The journey of BBT began in 2003 when Jatin was 17 and now he is 34, it’s been 17 years in the business. He made a profession out of his passion and so at BBT they do business with passion. Sometimes they are so zealous that they forget all the commercial aspects of business and do it by heart which is primarily the reason that not a single customer in the history of last 17 years turned out to be dissatisfied. The BBT family is now 170+ strong and everyone is contributing towards the progress of this organisation.

They work very closely with a lot of brands like BMW, Maseratti, and Mercedes. BBT has an inventory of more than 100 plus cars right now.

Back in 2003, Jatin started with a college project buying a Fiat Palio at Rs 70,000 and became a serious entrepreneur after completing his mechanical engineering. Big Boy Toyz as a firm came into existence in 2009. BBT sold a lot of Range Rovers and Land cruisers. Apart from this, the first Porsche Panamera and the first BMW X6 was imported by them in the country. At the time, this was the origin of the organisation.

Market size of luxury cars in India

As a part of the luxury cars segment, Audi, BMW and Mercedes put together sell around 35000 units every year. However, they don’t go much into the A4, A6 or the E class C class segment. Out of these 35000 units, there are about 10000 units which come under their segment. At Rs 50 lakh onwards this segment begins.

In Mumbai and Delhi, they have a physical front. 40 percent of the cars that BBT sells, the customers don’t pay a visit to the showroom. They scroll at the pictures online, look at the quality through the pictures, then payment is made online and the car is then delivered. They have got customers not only in urban areas but in rural areas too comprising areas such as Kolhapur, Nasik, Jammu Kashmir and PAN India.

They get customers from both online and offline mode where online mode accounts to 40 per cent of the business and also most of the offline customers are converted through online. They see about 20 to 25 people at every location within a day.

Loyal fan base

They sell one or two cars every day. Their conversion rate is 1 per cent because BBT is an open showroom to anyone, even the ones who want to click pictures at any given point of time. Most of the customers today have started buying cars without even seeing them. People have become confident with the product that Big Boy Toys is selling.

There is not one customer till date who is not satisfied. A customer doing Rupees 2 crore RTGS without even seeing the car is the kind of trust you can see from customers of BBT. Their retention rate or the satisfaction rate is similar or more than any other luxury car brand.

They have been sponsoring a few shows like Splitsvilla in MTv, Big Boy Toys GenX Fashion Show. When it comes to online, on Facebook they have 2.1 million followers and on Instagram they have around 400k subscribers.

They have their own merchandise like perfume, T-shirts and caps. This is because when Jatin was a kid he wanted to buy a Mercedes and he had bought a Mercedes keychain so that he could feel the luxury. In the same way, if someone is not able to afford the luxury car, he could have that luxury feel by means of those merchandises.

Collaborations with top actors

They have done about 35 to 40 music videos till now. They have done collaborations with Sonakshi Sinha, for DJ wale babu and many more. They were a part of the first supercar movie with Dharma in India called Drive. Jatin’s business philosophy is such that he believes in selling a product which he can recommend to his family. If he cannot use the product himself, he doesn’t have the confidence of selling it.

Throughout the country, they have a team running left, right, centre. The challenge is not selling but buying. Their rejection rate is 85%. A car driven above 25000 kms gets rejected, cars that have changed spare parts gets rejected. When quality standards are not upto the mark, it gets rejected. Buying a car is not a problem but buying a good quality car is a problem.

Apart from this, they are not limited to luxury cars, they sell merchandises too such as perfumes, pens, and cards etc.