Netflix is the global market leader in stream television and currently has 18 office locations around the world.
News is that the streaming giant is now opening up office in Australia, setting up HQ in Sydney and already hiring staff to man its Australian operations.
At $10 a month for unlimited, awesome content streaming, why shouldn’t Netflix come out on top?
Netflix is currently worth US 175 billion (around AUD 225 billion) and is already posing a threat to traditional pay TV models – such as Rupert Murdoch’s Foxtel – set to outstrip these in subscription sales. And at $10 a month for unlimited, awesome content streaming, why shouldn’t it come out on top?
The local subscription TV market is expected to grow at a 2.9 per cent compound annual rate from 2019 to 2023, according to PwC’s Australian Entertainment and Media Outlook released this week.
The new Netflix headquarters will undoubtedly see an increase in the production and distribution of Australian content.
Let’s just hope none of it is as bad as Chris Lilley’s Lunatics.
And here’s a fun fact for you: Netflix started out as an ambitious DVD-by-mail company that almost went out of business.
Back in 2011, the brand was being savaged by the media and its stock price was plummeting. Fast forward to today and it is the second-most valuable media company in the world, boasting almost 150 million subscribers.