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Netflix used several strategies to combat its competitors. One of the main strategies was creating its own original content. This not only provided a unique selling proposition but also reduced their dependency on third-party licensing rights. This strategy has proven to be successful in the long run, helping Netflix to differentiate itself from competitors like HBO Max, Disney+, and Discovery+.
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For instance, think about Netflix. Netflix began its competitive rivalry with traditional TV networks and the movie rental industry like Blockbuster, but now has to face new entrants that have popped up recently like HBO Max, Disney+, and the newly formed Discovery+. To combat these competitors and create a defensible position against supplier power in the form of third party licensing rights, Netflix began creating its own original content, which has paid off well in the long run.
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Do you feel trapped to outdo competitors? Better strategies can build a stronger defense against competition and generate higher ROI on your strategic...
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