Business Unusual, Evergreen Content

How Netflix became the 7th largest company in the world

World Wide Worx MD Arthur Goldstuck is back from Los Angeles where he visited the Netflix studios and interviewed Reed Hastings, the inspirational CEO and co-founder of Netflix.

The Money Show’s Bruce Whitfield asked Goldstuck to share the lessons he learned about the rapid growth and wild success of Netflix.

Legend has it that Hasting got the idea for Netflix in response to his frustration with Blockbuster, which he owed $40 in late fees for “Apollo 13”.

Today Netflix is the seventh largest company in the world.

Listen to the interview in the audio below (and scroll down for quotes from it).

Netflix is one of the great, iconic stories of how technology shifts the world…

Arthur Goldstuck, MD - World Wide Worx

Blockbuster rented out Betamax and VHS from a store… The amazing story of Netflix is built on the amazing rise and fall of Blockbuster…

Arthur Goldstuck, MD - World Wide Worx

Late return fees contributed 70% of [Blockbuster] revenues... They pushed one client too far…

Arthur Goldstuck, MD - World Wide Worx

Netflix is going to go very large in Africa and South Africa.

Arthur Goldstuck, MD - World Wide Worx

Netflix asked Blockbuster to buy them out… They literally laughed him [Netflix co-founder Reed Hastings] out of the hotel…

Arthur Goldstuck, MD - World Wide Worx

Netflix changed its business model to a monthly subscription service, transforming the video rental industry in the United States...

Arthur Goldstuck, MD - World Wide Worx

Blockbuster, in fact, committed suicide. It wasn’t Netflix that killed it.

Arthur Goldstuck, MD - World Wide Worx

Netflix is losing all the Marvel titles… So, Netflix is investing heavily in superhero series that it owns…

Arthur Goldstuck, MD - World Wide Worx

Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
'Nobody can now claim to be exonerated by the Seriti commission'

'Nobody can now claim to be exonerated by the Seriti commission'

Bruce Whitfield interviews David Lewis (Corruption Watch) and arms deal activist Terry Crawford-Browne.

Game guns for the townships with its ‘Get More Out of iGroza’ adverts

Game guns for the townships with its ‘Get More Out of iGroza’ adverts

Branding and advertising expert Andy Rice praises the new Game advertising campaign and Cognitive Agency, the brains behind it.

CR17: 'Face the nation! Tell us what happened! End this PR disaster'

CR17: 'Face the nation! Tell us what happened! End this PR disaster'

There was nothing illegal, yet the CR17 leaks is a PR disaster for Cyril Ramaphosa, says communications consultant Chris Vick.

Trevor Noah – 4th highest paid comedian on Earth – made R430 million in 2018

Trevor Noah – 4th highest paid comedian on Earth – made R430 million in 2018

Trevor Noah cracked Forbes magazine’s list of highest-paid stand-up comedians in the world.

Meet Fred Roed, founder of 'Heavy Chef' (SA’s most popular monthly tech event)

Meet Fred Roed, founder of 'Heavy Chef' (SA’s most popular monthly tech event)

The Money Show's Bruce Whitfield interviews the author of "The Heavy Chef Guide to Starting a Business in South Africa".

Want to get rich? Got R100? You don’t need millions to start

Want to get rich? Got R100? You don’t need millions to start

Bruce Whitfield interviews Anthea Gardner, author of "Make Your Money Work for You: Think Big, Start Small".

Popular articles
Land Claims Court ruling: 'Jubilation when judgment was handed down'

Land Claims Court ruling: 'Jubilation when judgment was handed down'

Association of Rural Advancement director Laurel Oettle praises ruling by ConCourt to uphold move to appoint a special master.

'He said the patient is still inaccessible and there is a lion on the loose

'He said the patient is still inaccessible and there is a lion on the loose

Best Care Paramedics spokesperson Xander Loubser recounts the incident where a 70-year-old man was killed by a lion in Pretoria.

[WATCH] Ndlovu Youth Choir shine once again with latest AGT performance

[WATCH] Ndlovu Youth Choir shine once again with latest AGT performance

The inspiring South African choirU2's Beautiful Day at America's Got Talent quarter-finals.

SA’s richest woman opens up about being a refugee and becoming a billionaire

SA’s richest woman opens up about being a refugee and becoming a billionaire

Magda Wierzycka – Sygnia’s renegade CEO – on her attitude toward money (hopes and fears, successes and failures, etc.).

Mystery solved: Why smelly, blue sewage has been leaking into Cape Town forest

Mystery solved: Why smelly, blue sewage has been leaking into Cape Town forest

The reason for the leakage has been revealed, explains Table Mountain Aerial Cableway MD Wahida Parker.

W Cape traffic chief: Stay close to other motorists on N2 to stay safe

W Cape traffic chief: Stay close to other motorists on N2 to stay safe

W Cape Traffic Chief Kenny Africa says private security working with the department is helping curb the stonings on the highway.

Were missing SA men victims of Vietnamese organ harvesting syndicate?

Were missing SA men victims of Vietnamese organ harvesting syndicate?

Gift of the Givers fears two South African men who went missing in Vietnam may have fallen prey to an organ harvesting syndicate.

'We want the land on the other side of the railway line, we want to go home'

'We want the land on the other side of the railway line, we want to go home'

Fadiel Adams from the Gatvol Capetonian movement about the planned shutdown on Thursday.