BCP Business & Management
EDI 2021
Volume
17
(2022)
145
Understanding the Development of Netflix during Recent Years
through Data Visualization
Wanqi Zhang
School of Arts & Sciences, University of Rochester, Rochester, NY 14627, USA
Abstract.
In recent years, the development of video streaming media has influenced the way
traditional industries are shaped. Amazon Prime Video, Netflix, Hulu, and Disney Plus are all
magnates leading the industry. And Netflix, as a media that is loved by audiences throughout the
globe, is known for its successful transformation and original contents. The objective of this article is
to use the techniques of data visualization to tell the story of how Netflix developed in recent years,
including its global layout, financial performance, content addition, and audience growth. By using
Tableau to create different tables and charts, this article is able to show the trend of Netflix’s
development and invoke insights about its current operation, especially under the global pandemic.
Keywords:
Netflix; Video Streaming Media; Data Visualization.
1.
Introduction
In the 21
st
century, as we break through the dimensions from text to pictures and then to videos,
the need of video streaming grows rapidly. Netflix, being one of the biggest streaming media in the
US and in the world, provides a great example of how this industry develops and is worth studying
for.
According to Grand View Research, the global video streaming market size was estimated at USD
50.11 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 21.0%
from 2021 to 2028. Leading the game, Netflix received 37 million paid memberships and USD 25
billion annual revenue at the end of 2020. Netflix is seeing continuous growth in its revenue and
subscribers, partially due to the huge surge of demand increase in indoor personal entertainment
brought by COVID-19. Netflix is expanding its movie and TV show library to keep up the demand
and produce more high-quality shows for subscribers.
This dataset consists of variables including country, region, year, revenue, stock price, subscriber,
amount of content, hours of original content, genre and so on. The data visualization will give users
an overview of the development of Netflix in recent years from different aspects.
2.
Literature Review
João and Ricardo (2021) utilizated a two-way fized effects estimator with state-month observations
to show that the increase in Netflix popularity is associated with reduction of cable TV subscribers
and number of small firms operating cable TV. Ramasoota and Abhibhu (2021) used several statistics
and charts to show that Netflix has affected both the industry chains in broadcast and film, but with
contrasting impacts. While broadcasters have gone online as content providers acquiring business
deals with other OTTs, independent filmmakers could bypass the monopoly of Thai film industry
through Netflix. Shon et al., (2021) examined the global OTT platforms, specifically Youtube and
Netflix, in South Korea on efficiency differences in local video production and distribution industries
by using stochastic frontier analysis and meta-frontier analysis. As they performed the analysis, they
found that the platforms did have impacts on the domestic industry. Husić and Baraković (2021)
stated that the Covid-19 pandemic has increased the use of video streaming service, and has driven a
rising interest to understand factors influencing quality of experience (QoE). By providing the
multidimensional modelling and analysis of QoE for video streaming, the authors showed that factors
including location, video type, and gender had shown significant impacts on QoE. Bridge et al., (2019)
used segmented quasi-Poisson regression and Holt-Winters forecasting models and found out that
