Beginning as a DVD rental service in 1997, Netflix is a paradigm shifter among growth hacking examples. Reed Hastings, one of the company’s co-founders, has said that the name stems from their intention to dominate the market for streaming video online.
A major factor in Netflix’s success is that the service allows users to watch any movie, TV show, or special at any time.
They did this by dividing the company into DVD and streaming video businesses and using the money from the latter to grow the former.
Beyond these and other growth hacks, Netflix also used:
To attract paying customers, Netflix acquired and streamed hit TV shows.
Strengthening one’s online profiles in order to make contact with people who share one’s interest in entertainment
Recently, subscription rates have increased due to a focus on hiring top talent to produce engaging content.
As of this writing, the business boasts over 117 million active streaming customers.