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| ▲ This photo, a captured image of "2021 Startup:KON," shows Marc Randolph, the founder of Netflix. (PHOTO NOT FOR SALE) (Yonhap) |
SEOUL, Oct. 7 (Yonhap) -- Netflix initially started off as a video·DVD rent service and has now grown into a global No. 1 OTT platform. In the center of its global success, stands the Korean market providing high-quality contents from “Kingdom” to “Squid Game.”
Marc Randolph, the co-founder and first CEO of Netflix and a longtime NOLS (National Outdoor Leadership School) instructor, mentioned the sensation of “Squid Game” and said online that, “Netflix is actively showing that not everything should be produced in Hollywood,” in his lecture for “2021 Startup:CON” co-held by the Ministry of Culture, Sports and Tourism and the Korea Creative Content Agency Thursday.
“We should think in a startup-way like hiring local actors, directors and authors. Not everything must be created from the headquarters. The workers at site should be able to make their own decisions about the contents. If there seems to be profit, we just need to hold hands with them,” explained Randolph.
“23 years ago, I wished to lend videos in an easier way. When I started the business, everybody said, “That will never work,” but the founder of Amazon, Jeff Bezoes, gave me hope mentioning an opportunity for collaboration.”
“I was really astonished at the success of today’s Netflix. I have never imagined it. Producing TV shows itself and being subscribed by all the people around the world was amazing,” said Randolph.
“For the first 9 years, we were a video renting company and live-streaming was quite a task at that time. Anyhow, Netflix did start live-streaming and I think that idea has created a very fruitful asset and story.”
“We have been studying for our users’ preference which will only lead us to another success,” added the Randolph.
When asked whether he sees the prolonging of the COVID-19 pandemic has become a help to the streaming platform’s growth, he answered, “It should be seen that we were already in a growing phase ourselves and the pandemic speeded it up.”
“The demand was already moving onto streaming from passively watching TVs and Netflix caught that trend earlier,” said Randolph.
Witnessing Netflix’s grand success, Disney, HBO and Apple also dived into the OTT market as well.
The head of Netflix mentioned “water cooler contents” and “seeking out niche markets” as their distinguishable strategies from the late-runners.
“We need public contents that anyone can talk about. And at the same time, we need unique contents from niche markets for those with minor tastes. Netflix is investing 10 billion dollars on its contents at the moment. Like this, it is important to expand the contents,” he said.
He also added, “We must not lose the startup-er’s mind. We need to be set to discard the present and get ready for the future whenever, like when I let go of DVD business and focused on streaming services.”
“As dinosaur-sized firms cannot easily move fast, startup mind is more important.” His words connect with the philosophy in his last year’s publication “That Will Never Work.”
“There is a saying that the best time to plant a tree is 20 years ahead, and the second-best time is now. If you have an idea and a dream, you should just go ahead and see what happens for yourself, even if there are uncertainties. That is a founder’s voyage,” said the founder who has engaged in various startups.
When he was asked to predict the future entertainment platform, he answered, “No one can predict the future. The important thing is thinking like doing a startup.”
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