ChatGPT Invented an Upstart Netflix Rival for Me

I was out on a walk this morning and thought it would be fun to see if ChatGPT could help me think up a strategy for a new company to compete against Netflix in online streaming.

On December 13, in response to a series of prompts, ChatGPT came up with the name of the business – StreamSphere – and suggested the features the service should provide to win over enough customers to dominate the online streaming industry by 2034. 

Along the way, ChatGPT helped design a survey of Netflix customers, hypothesize whether they would switch to StreamSphere and why; and helped estimate how much capital the business would need, and how much revenue and cash flow it would generate.

ChatGPT also advised on who should be in StreamSphere’s management team, which investors to approach for capital, what its first streaming series would be, and how to generate buzz through a multimedia marketing campaign. I left these details out due to space limitations.

What follows are the prompts I used and how ChatGPT responded to them. Perhaps you can do something similar for your business.

1. Creating company name and key product features.

To start the process, I prompted ChatGPT as follows; “I worked as an executive at Neftlix for the last decade. I am starting a company with a goal of dominating the online streaming industry. Please give this company a name and describe the six key features of the company’s service that will enable it to become the leader in the online streaming industry by 2034.”

ChatGPT called the company “StreamSphere” and gave a detailed list of the product’s key features. The first one was “Next-Gen Personalization.” 

ChatGPT described this as “StreamSphere employs advanced AI algorithms to understand user preferences on an individual level. It goes beyond basic genre recommendations, considering factors like mood, viewing history, and real-time feedback to curate a personalized streaming experience. This ensures that users discover content tailored to their unique tastes, enhancing engagement and satisfaction.”

Other key features — leaving out a description of each one — included, “Immersive Interactive Content, Global Localization and Diverse Content, Seamless Cross-Platform Integration, Revolutionary Pricing Models, and Community-Centric Features,” according to ChatGPT.

2. Surveying Netflix Customers to see if they will switch.

I asked ChatGPT to explain whether Netflix customers would switch to StreamSphere. So I gave a list of interview questions to ChatGPT and asked it to conduct a hypothetical survey with Netflix customers and summarize their responses to the questions.

ChatGPT responded: “While I don’t have direct access to Netflix subscriber preferences, I can offer some educated hypotheses.”

Here are the key insights ChatGPT provided:

• Factors influencing subscription decision: Common factors might include “content library, original content quality, ease of use (user interface), pricing, and device compatibility.”
• Netflix performance: Subscribers might “rate Netflix positively on content selection and original content” with a mixed response to its user interface.
• Awareness of StreamSphere: Many subscribers may “not be aware of StreamSphere, as new streaming services often take time to gain visibility.”
• Likelihood to switch: The introduction of innovative features by StreamSphere “could pique interest, especially if users feel their current service lacks in areas StreamSphere excels.”

3. Guessing how Netflix might respond to StreamSphere’s threat.

I asked how Netflix might change its business strategy if StreamSphere started winning away subscribers. ChatGPT responded as follows:

• Enhanced Personalization and Interactivity: Netflix might invest more heavily in advanced AI algorithms and interactive storytelling “to match or surpass StreamSphere’s features.” 
• Global Content Expansion: To counter StreamSphere’s emphasis on global content and diverse offerings, Netflix may “acquire and produce content that caters to a wider international audience.” 
• Flexible Pricing Models: Netflix could offer users more choices such as “new subscription tiers, bundled packages, or pay-per-view options.”
• Community Engagement and Social Features: Netflix might introduce “virtual watch parties, interactive forums, and user-generated content challenges” to compete with StreamSphere’s community features.

4. Forecasting StreamSphere’s cash flows.

I also asked ChatGPT to estimate how much money it would take to start and operate StreamSphere and to forecast its revenues and cash flow. Based on a series of reasonable assumptions, it reached the following conclusions:

• Capital requirements: $850 million

• Revenue: Increasing from $12 million (2024) to $23 million (2034)

• Cash flow: Rising from about $7 million (2024) to $14 million (2034)

It declined to calculate whether the business would generate a positive return on investment. 

ChatGPT provided a good first draft for me in about 30 minutes. I would do further research on all of this.

The takeaway? ChatGPT can help you overcome startup writer’s block.