NETFLIX can thank Facebook for its latest boost. The streaming giant was one of the companies to benefit from the global social media blackout in early October. As web users found themselves no longer able to scroll on Instagram and Facebook, they took the opportunity to devour the trending series of the moment like "Squid Game." And Netflix seems to be increasingly gaining in strength in the face of social networks.
14%: that's the rate of growth that Netflix observed on its platform during the worldwide outage that affected the Facebook group on October 4. The streaming giant has obviously taken advantage of Mark Zuckerberg's misfortunes to increase traffic on its site: "[O]n October 4, when Facebook experienced a global outage for several hours, our engagement saw a 14% increase during this time period," Netflix revealed in its latest letter for shareholders, published October 19.
The situation demonstrates how Netflix can be a serious competitor of social networks. For the American giant, other streaming platforms like HBO Max and Amazon Prime Video are no longer its only rivals.
The emergence of new applications with a focus on audio and video blurs the lines between social networks and platforms. For example, in France TikTok partnered with Amazon Prime Video to broadcast the mini-series "Cités," specially designed for the Chinese social network, in February 2021, while in August the two firms teamed up on "Just So You Know," a spinoff of "Modern Love." Even more recently, Snapchat announced a new reality show on its network with Addison Rae, star of TikTok.
"We compete with a staggeringly large set of activities for consumers' time and attention like watching linear TV, reading a book, browsing TikTok, or playing Fortnite, to name just a few," Netflix outlined in its letter.
The battle for users' time has become ever more heated and was highlighted during the global outage that Facebook, Instagram, WhatsApp and Messenger experienced in early October: "We are still quite small, with a lot of opportunity for growth; in our largest and most penetrated market, according to Nielsen, we are still less than 10% of US television screen time.
Our approach as always is to improve our service as quickly as we can so that we can earn a greater share of people's time," noted Netflix. In the wake of this, the streaming giant announced it has a new way of ranking its most-watched series based on the number of hours watched and no longer on the number of accounts that have watched.
The streaming giant isn't the only one to capitalize on Facebook's technical problems. Signal and Telegram have revealed an increase in their downloads. Recently, Telegram even revealed that it has surpassed 1 billion downloads on Android.
Reuters
Fri Oct 22 2021
Netflix can smile thanks to its global hit "Squid Game." - ETX Studio
Who is Prabowo Subianto, incoming president of Indonesia?
A wealthy ex-general with ties to Indonesia's popular outgoing president and its dictatorial past, looks set to be its next leader.
Iran's supreme leader says Hamas leader's death will not halt 'Axis of Resistance'
The "Axis of Resistance", built up with years of Iranian support, includes Hamas, the Lebanese Hezbollah group, the Houthi movement in Yemen, and various Shi'ite groups in Iraq and Syria.
Putin says Russia willing to seek compromises between Iran and Israel
Russia is ready to help seek compromises between arch-foes Israel and Iran, President Vladimir Putin said on Friday, saying these would be difficult but possible.
What proposals will Russia push at the BRICS summit?
The proposal is also to establish a BRICS reinsurance company to allow uninterrupted shipment of goods and key commodities between members.
Indonesia's free meals plan in the spotlight as Prabowo readies for office
Prabowo calls the programme one of the main drivers of economic growth, eventually set to add an estimated 2.5 million jobs.
Astro AWANI's revamped English news website, AWANI International, launches on Oct 21
Astro AWANI's revamped English platform delivers in-depth global news and expert analysis to keep you informed on key developments.
Israeli strikes kill 33 people in Jabalia refugee camp in Gaza, medics say
Residents of Jabalia said Israeli tanks had reached the heart of the camp after pushing through suburbs and residential districts.
Liam Payne's ex-partner calls for media restraint after 'painful' death
Cheryl Tweedy used her statement to urge the media to remember they had a seven-year-old son, Bear, who could read the reports.
Analysts: Indonesia's strong MoF leadership team to boost investor confidence
Sri Mulyani Indrawati as head of Indonesia's Ministry of Finance is expected to instil confidence among investors.
Biden offers both a carrot and a stick to Israel as his term nears an end
Israel has frequently resisted US advice and has caused political difficulties for the Biden administration.
Putin says BRICS will generate most of global economic growth
Russian President Vladimir Putin will host a summit of the group in the city of Kazan on Oct. 22-24.
ISIS Malaysia's perspective of Budget 2025
An excellent rakyat-centric budget under the overarching principle of a caring and humane economy.
Budget 2025: Record increase in STR, SARA aid initiatives
The government will provide a significant boost to the Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA) initiatives next year.
Budget 2025: EPF contributions to be made mandatory for foreign workers – PM Anwar
The government plans to make it compulsory for all non-citizen workers to contribute to the Employees Provident Fund (EPF).
What policies to expect from Indonesia's new President Prabowo
Prabowo will be open to foreign investment, his aide has said, such as by offering investors management of airports and sea ports.
Budget 2025: Govt allocates RM470 mil to empower women's participation in PMKS
The Women's Leadership Apprenticeship Program will be intensified as an effort to produce more female corporate personalities.
Israel sends more troops into north Gaza, deepens raid
Residents of Jabalia in northern Gaza said Israeli tanks had reached the heart of the camp, using heavy air and ground fire.
Indonesia ramps up security ahead of Prabowo's inauguration
Prabowo Subianto will be sworn in as Indonesia's president on Sunday with Vice President-elect, Gibran Rakabuming Raka, also taking office.
Immediate allocation of RM150 mil for local authorities, DID to tackle flash floods
Datuk Seri Anwar Ibrahim said this allocation is intended to address the recent flash floods that hit the capital and several major towns.
Budget 2025: Sabah, Sarawak to continue receiving among highest allocations - PM
Sabah and Sarawak continues to be prioritised under Budget 2025, with allocations of RM6.7 billion and RM5.9 billion respectively.