May 17, 2022 · less than 3 min read
Netflix needs to change things up. So, here goes…
Coming soon to Netflix
Netflix’s fall from financial grace has been dramatic. The giant has shed tens of billions in value as it recorded a loss in Q1 subscribers, and since then has been operating in damage limitation mode. It’s announced the end of some upcoming collaborations, and has been exploring what it can do to coax people back. Could livestreaming be the silver bullet?
Going live isn’t exactly reinventing the wheel, but there’s potential for livestreaming to offer something completely new to the world of cinematic entertainment. Recently, competitor platforms such as Disney+ have been moving into livestreaming and it seems to be going down well. So, anything Disney can do, Netflix will be hoping it can do better.
Turning the tide
Arguably the biggest area for growth could be the potential for live comedy events. Netflix invests heavily into comedy content and has recently held its first hybrid comedy festival. It boasted around 130 top-level comedians and is slowly being released onto the platform for subscribers to sample.
Having livestreaming capability means shows and festivals like this could go live from the outset. It could also see the introduction of live-action voting. So, there’s definitely potential here – but is it really going to be enough to coax back the masses at a time when their income is being eaten away by inflation? Netflix is spinning the wheel of fortune rather than reinventing it. Let’s see if it pays off.
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