In order for the American Repertory Theater (A.R.T.) to thrive and succeed our company must stay competitive with other entertainment industries accessible to residents of the Boston area. As you know, subscriptions have become an increasingly popular way of attracting new audiences by providing cost effective access to a variety of entertainment industries. Not only is the subscription-based entertainment industry in Boston vast, but also our competitors operate in a manner that contributes to economic development while bettering the quality of life in our local community and society at large. In this analysis I will specifically discuss our top three subscription-based competitors, and their regards to Corporate Social Responsibility. The entertainment industry includes an immense number of sub-industries, all in the business of providing entertainment. Entertainment can be defined as anything that generates an enjoyable diversion, such as theatre, film, comedy, music, cinema, television and radio. A large number of businesses in the entertainment industry have begun providing subscriptions for their customers. Subscriptions not only provide benefits and savings for customers, but also an increase company sales, audience, and advertising. Corporate Social Responsibility is the obligation from corporations to utilize their resources to aid and benefit the larger society. The four components of CSR are economic, legal, ethical, and philanthropic. Social Responsibility is a fundamental force in the wealth creation process. If correctly demonstrated, CSR should heighten competitiveness and boost the value of wealth creation to society. A company's CSR Initiatives directly represent who the company is and what it believes it. The m... ... middle of paper ... ...l responsibility, Netflix abides by an extensive Code of Ethics for its directors, officers and employees. Found on their company's website this code promotes honest conduct, fair handling of conflicts of interest, accurate and timely disclosure in reports and documents, compliance with government laws, and accountability for adherence with this code. The subscription-based industry is broad and various types of entertainment are accessible. The Boston Playwrights Theater, Major League Baseball TV and Netflix are A.R.T.'s top leading competitors in the sub-industries of entertainment in the Boston area. Each of these competitors appeal to a different audience type and provide good options for lower-income patrons. With respect to corporate social responsibility, these top three competitors demonstrate a strong understanding of community and ethical responsibility.
Lantos, GP, 2001, ‘The boundaries of strategic corporate social responsibility’, The Journal of Consumer Marketing, vol. 18, no. 7, pp. 595-639.
...a Rae article that, “moviemakers are in the movie business, not the social change business”. Although they talk about film specifically, any medium of entertainment could still apply to this statement. This cycle of production is unhealthy, but if the process works, why fix it?
The 2011 CSRI 50. (n.d.). Retrieved February 20, 2014, from Boston College Center for Corporate Citizenship: www.bcccc.net/pdf/CSRIReport2011.pdf
Determining the right target segment requires an analysis of the customer, company and competition (fig. 2). TiVo's customer is defined by unmet needs in the market. While TV is one of the most ensconced and ritualistic elements of contemporary American life, there are still aspects of television viewing that do not fulfill customer needs. An estimated 68% of Americans complained that they felt "widowed" by their loved one during the Fall television season because their spouses were chained to their televisions during primetime from 8pm to 11pm. Additionally, parents expressed a difficult time getting their children to do homework during key television programming times. In general, this is evidence that consumers want greater control over their television consumption habits. Analysis of the TiVo Corporation reveals their core competencies, which include proprietary software, national distribution through established retail outlets such as Best Buy, Circuit City and Sears and product co-branding with trusted electronics giants Philips and Sony.
As the demand for content increases, Netflix’s demand rises as well. Netflix claims that the largest share of their video streams market is from their library of licensed content. (Caporaso, T. 2014) It is believed that providing entire seasons versus episodes it promotes “bing-watching” habits. (Caporaso, T. 2014) To meet and maintain consumer needs, there is ongoing requests for more entertainment options. Netflix is continually expanding and updating its inventory to meet consumers’ needs and to compete with competitors.
An organization’s Corporate Social Responsibility (CSR) drives them to look out for the different interests of society. Most business corporations undertake responsibility for the impact of their organizational pursuits and various activities on their customers, employees, shareholders, communities and the environment. With the high volume of general competition between different companies and organizations in varied fields, CSR has become a morally imperative commitment, more than one enforced by the law. Most organizations in the modern world willingly try to improve the general well-being of not only their employees, but also their families and the society as a whole.
Journal of Public Policy and Marketing 18 (1999): 270. Communication & Mass Media Complete. EBSCO. DePaul Library. 7 Mar. 2008.
Introduction Reed Hastings (co-founder) founded Netflix in 1997. During this time, Netflix offered DVD rentals by mail. As Netflix went public in 2002, shortly a year later their subscription reached the one million mark (Netflix Management, 2011). Recently, Netflix was recognized as one of the 50 most innovative companies, ranking number eight for “streaming itself into a $9 billion powerhouse (and crushing Blockbuster)” with 20 million subscribers (fastcompany.com, 2011). This success shows how Netflix embraced a business approach where their mission was to take the troublesome experience of everyday consumers and transform them into a business opportunity.
Netflix was the first and largest digital movie source available to the home consumer. However, competition amongst new providers has changed the amount of content available to them as well as how they proceed in acquiring new material. With new providers on the rise, studios can choose whether to source their material to Netflix. Starz choose to no longer provide their programming license to Netflix beginning in 2012 (Ferrell & Hartline, 2014). Competitors like Amazon and Hulu are working to obtain studio content rights to bring some of the same content to their service as Netflix has (Ferrell & Hartline, 2014). Facing strong competition from other services to obtain licensing rights, it has become ever more important for Netflix to develop
The impact of CSR initiatives and social change in AAMA is to be a catalyst for positive systematic change in the community (Lefkowitz, 2003). In the late 1970’s the non-profits were the closest thing communities had in seeing some effects of socially responsible organizations. Nowadays, it has become more common place with B-Corp certification available for businesses in certain responsibility areas. The AAMA recognizes that their services and products come second place to the community of people they service without being a B-Corp certified organization. The AAMA has also seen the effects of corporate social responsibility as it relates to their employees and volunteers. For example, the work in the community
Reed Hastings, co-founder of Netflix headquartered in Los Gatos, CA, began the company’s operations in 1997 after receiving an enormous late charge from a movie rental he returned long overdue. However, Hastings had the desire to be different than traditional movie outlets; whereas, customers had to drive to the location, pay a certain amount for each movie they rented, and were given a deadline in which to return the movie. Instead of using a method established by other video markets “to attract customers to a retail location, Netflix offered home delivery of DVDs through the mail” which eventually led to a booming business towards streaming forms of entertainment (Shih, Kaufman, & Spinola, 2009, p. 3). Today, Netflix exists along with several competitors; however, offers the most streaming content available for viewing, and continues to grow its subscriber base both domestically and globally. Although, direct and indirect competitors, acquisition costs, and several barriers present a financial threat for Netflix, the company has managed to grow with the acclamation of partnerships, expand to international territories, and vastly increase its price in shares of stock.
The idea inspired Reed Hastings and Marc Randolph, and then they founded Netflix in Scotts Valley, California in 1997 (Netflix, 2014). The company comes into play by developing a subscription-based streaming platform for movies and television shows. Unlike the traditional movie rental businesses such as Blockbuster and Redbox, Netflix’s innovation offers service via Internet, and it does not have any physical stores but instead delivers DVDs through postal mail in the U.S. Since then, Netflix has become the world’s leading internet television network with constant growth of customers to over 48 millions members in more than 40 countries in the North America, Europe, and the Latin America (Netflix, 2014). In this analysis, the main focus is examining the current market environment for Netflix. It identifies the type of market structure that Netflix is currently competing. The analysis also expands on the competitions, product differentiation, pricing strategy, and measuring the level of easy entry-and-exit.
In the sixties and seventies, there was also an exaggerated emphasis on the development of African American, Asian, and Hispanic theatre companies in an attempt to further diversify a white-dominated field. Women’s and LGBT+ friendly companies also became popular during this time. Both of these things showed a transition in a field dominated by straight, white men to an artform that could better represent our culture and society by being inclusive of others participating in it. For example, in 1980 St. Louis was still considered desegregated.
Netflix was established by Marc Randolph and Reed Hastings in 1997 in California. Initially, the company offered a DVD-by-mail service for a monthly, flat rate subscription fee. Videos were sen...
It has always adapted to that society’s standards of leisure. Shakespeare offered tickets at a variety of prices so noblemen and commoners alike could view his productions. Now, as technology sprints towards unknown heights, theater companies must adapt to the changing times in order to keep up with digital