Did you know that Netflix has only 90 seconds to find a show that suits a user before she gets frustrated and quits? According to a recent academic study, “a typical Netflix member loses interest after perhaps 60 to 90 seconds of choosing, having reviewed 10 to 20 titles (perhaps 3 in detail) on one or two screens.”
How does Netflix manage to find the right show for the right user so quickly?
According to the same study, 80% of its customers’ video plays comes from its personalized recommendation engine. Netflix estimates the value brought by this personalized recommendation system at a billion dollars per year.
That’s a serious win achieved through personalization.