These are uncertain times for Netflix, but the streaming service is not sitting still as competitors grow and subscribers leave. It has plans to diversify beyond its current core business, and those plans apparently extend to live streaming shows.
According to a new report in Deadline, Netflix’s forces are “exploring” the idea of live streaming content as it happens — think comedy stand-up specials and talent shows. In other words, a bit more like TV used to be.
Live reunions are another possibility, according to Deadline, and there’s a chance that live sports could be included in the future. It’s something other platforms are doing, like introducing Friday Night Baseball on Apple TV Plus.
All this is in the “preliminary phase”, so you should not expect an announcement soon. The article doesn’t provide a timeline for the live content rollout, but apparently a team at Netflix is now working on the feature.
Comedy could be a good starting point for Netflix, as it already hosts content from a number of well-known comedians. There’s also the option of interacting with the audience when shows are broadcast live, something Netflix has experimented with before (but in a different format) through the movie Bandersnatch.
Netflix has been instrumental in the shift to on-demand streaming rather than live broadcasting, but business leaders know that the more formats it offers and the more options it offers subscribers, the better.
Analysis: Netflix must evolve to survive
Being the largest and most well-known streaming services out there, it might not seem like Netflix has a big problem right now – but dig a little deeper and you’ll see several troubling signals for the company.
Rival platforms like Amazon Prime Video and Disney Plus are gaining new subscribers and releasing new content all the time. For the first time in ten years, Netflix subscribers have actually fallen instead of increased. And Netflix knows that too many of its users share passwords.
Put all that together and Netflix knows it can’t afford to get complacent – as Facebook has shown, even the most dominant players in a market can run into trouble very quickly as the market shifts and alternatives appear on the scene. .
In addition to the potential to do live streaming and crack down on password sharing, Netflix has also been exploring the field of mobile gaming, pulling the plug on countless shows to cut costs. We also expect the streaming giant to announce a free ad-supported tier in the near future.
Via The Verge