Netflix has been losing subscribers, but the video streaming platform is looking into another source of revenue; live streaming.
As reported by Deadline, Netflix will soon offer a live streaming option for live content, including stand-up specials. This could allow the streaming giant to offer live reunions and even include real-time voting for contest shows.
Netflix will likely produce live comedy specials, going by its recent acts. The company organized the first edition of its live and in-person comedy extravaganza known as Netflix is a Joke Fest. The event spread over several days and showcased more than 300 comedians, including famous acts like Ali Wong, Jerry Seinfeld, Bill Burr, etc.
The streaming platform will soon start streaming some recordings of the show. However, the live shows might be delayed by a few seconds to handle when censoring is needed.
Netflix has not shared any info publicly on the rumored feature. However, the company’s fierce rival, Disney Plus, is already doing live streaming. The network also live-streamed the last Academy Awards, the first time it would do so. Disney Plus also offers its subscribers the popular Dancing With The Stars series, and the celebrity dancing competition will air live on Disney Plus this year.
Netflix reported a loss of subscribers in the last quarter, the first time in a decade. However, Netflix’s competitors gained during the same period. For example, Disney Plus added almost 8 million users in the first three months of 2022.
Netflix is attempting to shore up its revenue by cracking down on password-sharing, a practice that allows non-account holders to access the service by using the log-in details of friends or family. This will be augmented by a cheaper but ad-supported payment tier. Both measures could roll out before the end of this year.
It is not clear yet whether Netflix will expand the live streaming option to cover live sport, which seems like a perfect fit. The platform even carried an F1 series Drive to Survive to great success.
Deadline understood that a small group within the company has been assembled to develop the product. However, there is no timeline known yet for the rollout of such an offering.