ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The biggest radical innovation of Netflix is when Netflix transformed from a DVD rental service into an online streaming platform. This means that customers no longer had to wait for their DVD to be delivered, as they were now able to watch Netflix content through its online streaming platform.

Detailed explanation-2: -2. Netflix Basic plan. Apart from the Mobile plan, Netflix also offers a ‘Basic’ plan that costs Rs 199 per month/ Rs 2, 388 for a year.

Detailed explanation-3: -Leveraging on a streaming platform, Netflix generated over $31.6 billion in 2022. Since 2013, Netflix has been transitioning from a platform (primarily providing licensed content) to a media powerhouse (mostly producing its own content). In 2021, Netflix spent over $4 billion on produced content.

Detailed explanation-4: -Netflix, the US streaming service with hits including The Crown and Stranger Things, has revealed its annual revenue from UK subscribers for the first time – £1.4bn in 2021 – after changing its accounting practices in a move that also resulted in a big increase in its corporation tax payment to almost £7m.