Business Case: Netflix - Data Exploration and Visualisation
🎯 Objective
Analyzing the data and generate insights that could help Netflix in deciding which type of shows/movies to produce and how they can grow the business in different countries.
📚 About Data
This tabular dataset consists of data as of mid-2021, about 8807 movies and tv shows available on Netflix, along with details such as - cast, directors, ratings, release year, duration, etc.
Business Recommendations
- Investment in Localized Content
• The data suggests that catering to local preferences is crucial for success. Netflix should continue to invest in producing content that resonates with different cultural and linguistic preferences around the world.
• Given the popularity of TV shows in Asian countries, particularly South Korea and Japan, Netflix should increase its investment in producing and acquiring Asian TV shows.
• Acknowledging the European preference for movies, Netflix should prioritize curating a diverse and engaging movie library that caters to the tastes of European viewers.
• Given the significant investment in content production in the USA and the emphasis on India, Netflix should continue to focus on these markets.
- Strategic Release Timing
• Monthly Strategy
o Focusing on releasing high-quality content during the months of January, July, August, October, and December could lead to increased viewer interest and engagement as these months have historically seen higher content upload counts, indicating higher demand during those periods.
• Weekly Strategy
o The first week of each month can be designated as a "Featured Release Week," where the platform introduces a major TV show or movie. Subsequently, during the three-week period of reduced content additions, the platform can leverage this time to promote and highlight existing content
- Age-Targeted Content Expansion
• In India and Japan, where there is a high demand for teen-centric content, Netflix could partner with local production studios to develop original series and movies that resonate with the teenage audience.
• For countries like Spain, Mexico, Germany, and France, where adult-centric content is favored, Netflix should invest in creating mature and sophisticated original content that aligns with the cultural sensibilities of these regions.
- Diverse Runtimes
• Since viewers prefer movies of standard length, Netflix should continue producing standard films that offer a well-rounded movie-watching experience. However, the popularity of "Medium length Films" suggests that there's an appetite for movies with more depth and storytelling.
• Recognizing the popularity of shorter TV series, Netflix should continue focusing on producing limited series and shorter season formats. This approach aligns with viewer preferences for consuming content in manageable episodes.
- Optimizing Content Acquisition Strategy
• Given the trend of faster availability of TV shows compared to movies, Netflix could work on acquiring more recent movies and reducing the time lag between their theatrical release and availability on the platform. This could cater to the audience's preference for up-to-date TV shows and movies.