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Topic of the Week
The Organization and Strategy of International Business
For this discussion, I’ve found an article that covers Netflix’s global expansion steps. Netflix took a localization strategy when first expanding the United States based business into Canada. Since Canada is “less foreign” than somewhere like China, the transition was relatively easy to reach their target market. Bringing business to Canada (and all other countries for that matter) is unique because they need to secure deals by each region they expand to and completely understand entertainment regulations in each country.
The localization strategy allowed Netflix to customize their entertainment offerings to new markets by acquiring favorite shows and movies in each country and tailoring content accordingly. Many U.S. based shows are also offered with subtitles in native languages so other countries may enjoy Netflix original content from their original market. They approached the expansion in three phases: first was the traditional approach to development; the second was a faster 50 country saturation; third was accelerating to 190 countries. The rapid approach took the market by surprise and made Netflix top dog in online streaming, competing directly with Amazon Prime Video.
Netflix has also used its market research in North America to understand the increase in mobile users and have focused efforts on users worldwide. Netflix is the largest online streaming service in the world due to its investment in research and analytics, allowing them to customize their service for each user.