Media and entertainment industry has always been on the forefront of tech innovation. An unspoken law reads, either change or die. That’s what the incumbents like Disney, Fox, Comcast, and Time Warner are still figuring out. That’s what streaming video providers like Netflix, Amazon Instant Video, and Hulu have got covered.
Story timeOnce an underdog in video rentals, Netflix approached the then major player, Blockbuster, about selling 49% of the company to act as an online arm for the video-rental giant. Netflix estimated its worth at $50 million.
‘Loonatics!’ laughed Blockbuster folk, ‘Isn’t that a bit over-the-top?!’
Well, they were spot on! Over just a decade, Netflix transformed into a $47 billion service to deliver over-the-top (OTT) video content!continue reading