Netflix is going live.
The subscription streaming service and production company is going all-out to compensate for the 200,000 paid subscribers it lost in the first quarter of the year (its first in a decade), a corresponding slump in its stock, and layoffs.
For the first time in its 25-year-old history, it is exploring the possibility of rolling out live-streaming and is (reportedly) already in the preliminary stages of developing the product.
Netflix confirmed the accuracy of the story, adding that they were still in the early phases of exploring the capability. It declined, however, from providing a timeline and an estimated date of arrival.
If live-streaming does come to Netflix, then the company can use it for unscripted shows such as competition series, stand-up comedy shows, and reality TV reunion episodes. It could also birth new (for Netflix anyway) and audience participation features such as live voting for talent contests and competition series.
It could also be used for Netflix’s recent “Netflix is a Joke” festival, which is offline in nature and featured around 300 stand-up performances across LA including Dave Chappelle, Larry David, and Pete Davidson. Netflix could live-stream it so that its reach encompasses the globe and the festival has hundreds of thousands of viewers. It could also take the Hotstar way and broadcast live sports events (such as the ongoing IPL 2022.)
If Netflix does end up rolling out the capability for live-streaming, then it will be following in the footsteps of Disney. In case you missed it, Disney+ had entered the live-streaming business with its very first live-stream back in February. At that time, it aired the Academy Awards live and added 7.9 million new users in the previous quarter. Its Indian subsidiary, Disney+ Hotstar, ha alreayd been in live-streaming for quite some time, bagging exclusive cricket broadcasting rights for IPL and other tournaments.
In related news, Netflix added a new Content Hub for those who view the service on TV. It contains curated collections to highlight holidays like Internal Women’s Day or Earth Day to make it easier for users to find their favorite film genres and discover new ones.