Netflix might venture into live-streaming space to expand its content

According to reliable sources, Netflix Inc. is likely to enter the live streaming service for stand-up performances and other live shows.

With support for live streaming, Netflix could also premiere live reunions, such as the one conducted recently by the real estate reality show namely Selling Sunset, and enable live polling for competition shows.  The OTT streaming major is likely to use the technology to telecast live comedy special events.

The Netflix Is a Joke Fest, which took place this year, was the company's first-ever in-person comedy festival. Over 130 prominent comedians performed over the course of several days at the Los Angeles festival.

Netflix will begin displaying some of the acts taped at the festival this month and throughout June, but if it decides to bring the fest back next year, a live option could allow customers at home to enjoy shows as they develop.

One of Netflix's biggest rivals, Disney Plus, has already introduced a live-streaming feature. In February for instance, Disney Plus aired a live telecast of the Academy Awards, a first for the channel.

The Walt Disney-owned streaming platform, which has been gaining solid traction lately, is likely to launch a live program called the Dancing with the Stars, which is essentially a celebrity dancing competition show.

It is worth mentioning here that Netflix is currently losing subscribers for the first time in over 10 years, while Disney Plus has succeeded in adding 7.9 million new users in the initial months of 2022. To regain its competitive lead, Netflix has indicated possibly cracking down on password sharing as well as providing a cheaper ad-supported watching alternative, critically to help offset a drop in revenue and subscribers.

Apart from this, Netflix is also exploring the gaming sector to diversify not only its content but capture more markets with all types of age groups.

Source Credits:

https://www.theverge.com/2022/5/14/23072842/netflix-looking-into-livestreaming-report