So, Netflix offering a million dollars to the person or team that can improve their recommendation algorithm by 10 percent is a much more serious affair than I thought. It includes interesting lessons in software development and crowd sourcing. It even includes the mystery contestant, coming out of nowhere, who could win the whole thing.
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Is Netflix assuming that selecting movies that are more in-tune with what a customer wants to watch will actually yield more revenue?
That would be incorrect.
Netflix can grow revenue by increasing its marketshare, not by increasing the number of movies watched by existing customers.