Netflix is nothing short of a global cultural phenomenon, and the video streaming service has in a short time already established itself as one of the UK’s best loved brands. Indeed, it ended last year as the country’s second most positively talked-about brand, according to YouGov data, with only Aldi bettering its buzz score of 16.4.
The research company’s analysis also paints a picture of a brand that offers good value and is surging ahead in terms of consideration and purchase intent. These data points were central to the Marketing Week Masters judges deliberations, as they made the decision to shortlist Netflix for the Brand of the Year award.
Having commissioned $1bn-worth of programmes in Europe alone during 2018, the company has let its content do most of its marketing, generating substantial press coverage, supported by judicious use of advertising. This has put it firmly in pole position in the UK streaming market.
YouGov’s research indicates that UK consumers’ purchase intent for Netflix is on the rise, and is consistently around four times higher than for Amazon Prime Video, while Sky Go trails even further behind.
Consideration and perception of value have also trended steadily upwards – not just among the wider population or the core millennial audience but also among those aged 50 and above. This shows it is constantly broadening its appeal.
Those who sign up are more progressive than the average consumer in terms of their media consumption – or are perhaps being made more progressive by Netflix itself. Netflix fans are more likely to believe live TV is ‘a thing of the past’, and less likely to say they prefer watching programmes live. Yet they are also more likely to enjoy watching TV with their family.
Its customers are clearly happy with what they’re getting. According to YouGov, Netflix has a recommend score of 63, compared with a competitor average of just 26 on the same metric.
With such impressive statistics in its favour, its place on the Brand of the Year shortlist is well earned.
The winners of Marketing Week’s Masters will be unveiled during a ceremony held at The Brewery in London on 2 October. For more information on the event and table bookings head to marketingweekmasters.com.