Creating a video streaming website like Netflix is a very viable business idea. It's a niche market that can be tapped into. Here are some ideas to get started; First, you would need to buy a domain name. After that you need to choose an appropriate CMS, a video streaming service like YouTube comes with their own CMS; however, you will probably want something with more functionality. Now that you have your domain name and CMS selected, you need to figure out how to get content to stream. You could go out and buy it and host it yourself, or you can go with a free service like YouTube, Facebook and Twitter. If you want to get rich and famous, you should produce your own content. That would take some time, but if you can get the hang of it, you'll be the only game in town.