As the world’s largest paid video site，Netflix has used the Internet O2O model to complete the transition from DVD rentals to streaming media on-demand to video content producers. Its strategy of investing in documentary production，based on the advantages of Internet big data and algorithms，aims at market profit，and presents the characteristics of Internet documentary production and operation that are different from traditional media in terms of internationalization and regionalization. Netflix video content including documentaries is bound to embark on content customization，worldwide operations，products all typed in the future. At the same time，Netflix’s success is also faced potential crises of declining net profit margins and same industry competition.