Netflix’s upcoming live-streaming feature is reportedly in the early stages of development at the moment, but once implemented, this would allow Netflix to ask its viewers for live voting for competition series and talent hunt shows.
Netflix is mulling several new options to add new subscribers. It is working on a feature that curbs password-sharing as well as a cheaper, ad-supported option just so more people start using the streaming service, which is facing stiff competition and has a lot of pressure to increase revenue. The next thing in the pipeline towards fostering growth could be live-streaming.
According to a Deadline report, Netflix may be looking to introduce live streaming on the platform. This new option could initially be available for stand-up specials, live comedy shows, and unscripted shows. The report said that Netflix’s upcoming live-streaming feature is in the early stages of development at the moment, but once implemented, this would allow Netflix to ask its viewers for live voting for competition series and talent hunt shows. Netflix is soon going to stream Dance 100 and that could be the best way for a dry run of live voting.
Netflix could also use the upcoming live-streaming option for its “Netflix Is A Joke” festival if it returns at all. The festival featured around 300 stand-up performances across Los Angeles. Among the performers were Dave Chappelle, Larry David and Pete Davidson. Live-streaming stand-up shows could allow Netflix to open new streams, such as charging exclusively for those shows. However, there is no information about whether or not Netflix is planning to monetise this upcoming feature.
The live-streaming option for Netflix is also important now. Its closest rival, Disney Plus, already has dabbled in live-streaming shows, and since popular talent hunt shows, such as American Idol and Dancing With the Stars, are moving to Disney Plus, it becomes even more important for Netflix to counter. Disney Plus Hotstar, which is the Indian variant of the Walt Disney-owned streaming service, already offers live-streaming of sports — something Netflix does not have right now, so maybe live-streaming could push the addition of sports streaming on the platform.
Netflix’s most recent earnings report painted a rather gloomy picture of the company. The streaming company reported it saw the biggest subscriber loss for the first time in over 10 years last quarter and that impacted revenue. Netflix cited several reasons why the subscriber count was lower. It blamed the ongoing crisis in Ukraine and the ban that Russia has imposed on the service. Then, it blamed password sharing — a popular practice among Netflix users where a member shares the password of their account with non-family users. Netflix is already asking users in select markets to pay for those users and it plans to expand this restriction to more markets in a bid to increase subscribers and, thereby, revenue.