The main target market for Netflix are millennial consumers.
NETFLIX CUSTOMER SERVICE DRIVER
The real driver of popularity, sales, and revenue for Netflix is the technology and its user-friendly interface that allows users to stream videos across a wide variety of devices as well as the large amount of content that caters to the varying tastes and preferences of several consumer segments.
As competition has continued to intensify in the online entertainment industry, Netflix is facing increased competition from a large number of online streaming services providers as well as social media and gaming services. In 2019, the net revenue of Netflix grew to $20.15 billion compared to $15.8 billion in 2018. Apart from that the companies also focused on the use of technology to provide users a superior experience. The company has a wide range of content in several languages and genres. Over the past several years, Netflix has continued to enjoy faster growth in popularity and sales mainly driven by original shows like Money Heist. The growth of Netflix is mainly a result of its focus on customer experience and a wide range of original content that can be accessed by users across 190 countries. The brand enjoys global popularity and has acquired a very large subscriber base of more than 167 million people. Netflix is a leading online streaming services provider based in the United States.