As predicted, Netflix surpassed HBO in revenue for the second quarter of 2014. Reed Hastings, President of the company posted the news to Facebook, noting that his company is still behind when it comes to profits and Emmys, but "we're honored to be in the same league." Netflix produced its own series, House of Cards.
Netflix began in 1997 as a DVD rental service. They went through some bumps in the road but emerged as a streaming service in 2007. Their ability to deliver movies and television shows to consumers at home helped to put the Blockbuster movie rental company out of business. Now they are putting theater owners in jeopardy.
Theaters have reported sagging attendance, partially due to weak offerings from Hollywood. But online streaming is changing the way we watch our movies and television shows. More and more Millenials are watching online streamed television and movies instead of television.
The world is changing as technology couples with consumer needs for better, faster and easier services. Reinvent your industry before someone beats you to it.
What is the “Netflix” that is in your industry, market or community? How are you setting the standard higher so people will have to emulate you?