Journalism, Mass Media and Communication - Case Study Example

Journalism- Media Product al Affiliation Journalism, Mass Media and Communication Introduction The study will analyze the media product of streaming movies. This is a media product that I enjoy and it has the advantage of being easy to access the music and movies at any time. I also have the benefit of having an instant playback and a large selection of movies and music that I can access. The study will analyze the source of the product in terms of the history relating to the media product and the company that provides it. It will enable for the analysis of the product and the company that owns that product in terms of the ownership of the company. This information is important, especially, in determining the authenticity of the media product. It will also enable for the analysis of the effect the ownership of the product by the company has on the provision of the streamed music and videos to the customers. Ownership of the Product The research has a focus on the media product of streaming movies and music. The term streaming music and movies has the meaning of the customer having the ability of watching a particular movie as the provider presents the same. This media product has the history of being available in the 1920s, although not as developed (Ammori, 2009). George Squier gained the patent that enabled him to have the rights to use electrical lines transmit and distribute signals over the radio. This technology has since developed over the years, and especially due to the rapid growth and development of the Internet. This was due to the presence of increased network bandwidth and the accessibility to networks through the internet. As of 1995, there were various business developments with streaming media and businesses fought over the rights to have the exclusive ownership of the technology of streaming media. Real Networks was among the first companies to stream live broadcasts over the radio, but it had to involve in a legal war with the Microsoft Company over the rights of streaming media. With the introduction of the HTTP protocols by the Move Networks Company, it was possible to have a faster streaming of movies and music over the internet without the common earlier issues of bandwidth, reach and scalability (Miller, 2008). This was possible due to the contribution of the Flash Player in the creation of Web 2.0. . As such, Netflix used this technology in 2008 to develop its own technology of the Watch Instantly service of streaming movies and music. As a company founded in 1997 by Reed Hastings, the Netflix Company started as a company renting out movies to its various customers through the use of DVD players. The customers had to subscribe to the rental services of the customers. However, the company realized that it is using a lot of finances and inconveniences in delivering the movies to the customers though the postal services (Ammori, 2009). As such, Netflix decided to take advantage of the internet to form the technology of streaming instant movies and music to its customers, at a subscription. The company is now the largest company in America offering streamed movies to the customers and it has managed to expand internationally to other countries. The Netflix Company does not have a parent company or subsidiaries companies that it uses to streamline its movies to its customers. In 2011, the company had the subsidiary company of Quikster to provide DV D rental movies at different rates. However, this venture did not work out for Netflix and it had to close down the company (Wingfield, 2009). At the inception of the Netflix Company, it was co-owned by its founders who are Marc Randolph and the current CEO of the company, Reed Hastings. Currently, the Netflix Company moved from being a privately owned company to being publicly traded. It is, therefore, owned by various investment funds, private investors and institutions. Other Products owned by the Netflix Company Netflix Company offers disc rental services to its subscribers. This was the original product of Netflix, where the customers would avail their contacts to the company for the postal delivery of the movies by Netflix in the form of DVDs. The customers get unlimited movies in the form of DVDs for 7.99 dollars in a month. This delivery of the unlimited DVDs will be in the form of one DVD per customer and another will be availed immediately on the return of the previously rented one. For the amount of $ 11.99 in a month, it is possible to get two discs at each delivery, while $ 15.99 dollars stands in for three DVDs (Ammori, 2009). The Blu-ray DVDs have a different cost than the normal DVD, with the Blu-ray being more expensive especially in the limited subscription. The company also offers video game services to its various customers. Some of the available videogames offered by Netflix include the Xbox One, Wii U, Wii, play station three and four and also the Xbox 360. This is a favorite product for the youngsters and the youth. The product utilizes the same technology of streaming content, especially through the use of a computer browser. About 42% of all the Netflix users prefer to use a standalone computer in order to access the services of the company (Wingfield & Stelter, 2011). This is especially so when they want to access the various video games availed by the Netflix company. The selection of the titles for the video games depend on the specific Internet Protocol address of the user, which depends on their location. How the Ownership of the Company affects the Product. The media product mostly accessed from Netflix is the online streaming of movies and music content as provided by the company. The change of the ownership of the company from being a privately owned company to being publicly traded has not had a lot of effect on the provision of online streaming of movies and music (Strott, 2015). There has been a tremendous growth for the company due to its involvement in the public traded market where its financial statements and performance became a public affair. The managers of the company enabled for the growth of the movie and music streaming services of Netflix, an aspect that has managed to increase the total value of the company. The Netflix Company has over fifty million customers who have subscribed to the services of the company, and this is in over fifty countries that the company has managed to internationally expand (Wingfield, 2009). This shows that the company has had a lot of support and success due to its decision to sell its stock publicly. This was back in the year 2002. However, the Netflix Company has had the misfortune of causing discomfort and an outcry when it decided to create the Quikster subsidiary of the company. The purpose was to separate the customers of the company into two main segments, which was the segment of the subscribers of physical DVDs and those streaming content online. The Quikster services was meant for the DVD subscribers (Miler, 2008). This was a cause for the company to experience losses as the customers claimed that the division costs them a lot since they have to pay more to access the services of Netflix. The Quikster subsidiary later closed. Among the controversies surrounding the Quikster issue was that the CEO of the Company, Red Hastings, wanted the Qikster project to go through, despite the concerns of the other managers on the Board. This was major issue that affected the provision of streamed movies to the customers since the company had its focus on dealing with the issue of Quikster, and the company received a lot of negative feedback. However, the provision of screamed movies and music is among the best in the Netflix Company. How Findings Influence Future Consumption of the Product The Netflix Company is the best company that provides the media product of the streamed movies and music. Its major competitors such as Hulu and Blockbuster do not have the same ability to achieve customer loyalty and quality in the streaming of content. As according to the findings, it is clear that the company offers relatively more expensive services to the customers (Wingfield & Stelter, 2011). However, the expensive nature of the content from Netflix compensates for the quality of the provision of its services and its extensive customer service. The ownership of the company also does not affect the provision of streamed movies and other services to its subscribers, unlike their companies with parent companies. The Netflix Company decided to involve itself fully in the provision of content for the purpose of ensuring quality and standardization of services and products to its customers all over the world. This means that the findings of this study, have influenced my plan to increase my future consumption of the streamed content from the Netflix Company. Conclusion As according to the research conducted on the Netflix Company, it is a company that owns the technology to offer streamed content to its customers who have subscribed to their products. The company offers various products such as the physical DVD movies that it offers at different rates to its customers, depending on the nature of the subscription, whether limited or unlimited. Another product offered by Netflix apart from streamed content is the provision of video games such as Xbox. The company changed from being a private company co-owned by its founders, Marc Antony and red Hastings. Hastings remains the current CEO of the company even after the company became publicly traded in the year 2002. This change of ownership where private investors and organizations own Netflix did not change the provision of the streamed content of the company. It has enabled the company increase the quality of the provision of streamed content to the various customers who have subscribed to their services. According to the findings of this research, I plan to increase my future consumptions of the streamed content from the Netflix Company due to the quality the company offers to its subscribers. References Ammori, M. (2009). Copyrights Latest Communications Policy: Content-Lock-Out and Compulsory Licensing for Internet Television. CommLaw Conspectus, 18, 375. Miller, E. (2008). U.S. Patent No. 7,382,879. Washington, DC: U.S. Patent and Trademark Office. Strott, L. B. (2015). Streaming is the New Black: A Consumer-based Examination of Netflix Inc. Original Programming and Streaming Strategy (Doctoral dissertation, Drexel University). Wingfield, N., & Stelter, B. (2011). How Netflix lost 800,000 members, and good will. The New York Times (online edition), October, 24. Wingfield, B. (2009). Netflix Boss Plots Life After the DVD. Routledge. Read More