In some of our previous thinking, we told you to remember the significance of the wider tech market and how it can affect the music, TV and film industries. Our message was to know your place in the broader tech ecosystem.
That was step one. Step two: think bigger, beyond the borders of the tech ecosystem alone.
Reframing how you view your market and how it interconnects with many other markets can inject interesting, different, or ground-breaking insight into innovation strategies, brand partnerships and brand positioning.
The historic failure of the US railroad industry is a TVE favourite when it comes to a brand’s single mindedness. Failing to understand that they were operating in a much wider industry than just “railways” and instead were part of the much bigger travel and transport space, the US railroad industry missed many opportunities and ultimately failed.
Netflix, on the other hand, has not forgotten the importance of thinking beyond their own industry. They have been thinking about the travel industry, and in what way they can play a role.
It seems a fairly obvious one thinking about it now. Passengers on long flights will spend the majority of their time watching TV, relying on whichever films and TV shows the airline has bought the licence for.
So why not add a streaming service? This is exactly what Netflix has done, partnering with Virgin America. This brand partnership benefits Netflix as they are able to extend their reach beyond the ground, and with almost blue sky thinking, they are able to take branded ownership of content in the skies. It benefits Virgin America because they can offer a service that parallels ‘on the ground’ expectations.
Netflix spotted a trend and need in another market and provided a solution to a pain point in the travel industry.
Can you truly be on the forefront of change without looking outside your immediate field of vision, and beyond your usual competitors and category norms? Don’t forget; the sky’s the limit.
Categories: Tech & Content