Netflix to add more live streaming in bid to attract more subscribers

Netflix to add more live streaming in bid to attract more subscribers
Netflix sign on a building at sunset. Credit: Unsplash

In a bid to attract more subscribers, the online streaming giant Netflix is looking to boost its live broadcast offering. The broadcasts would initially feature comedy performances or talent shows where viewers can vote for their favourite contestants.

Earlier in May, Netflix hosted its first ever comedy event called 'Netflix is a Joke', featuring over 130 comedians in Los Angeles. The lineup included icons such as Larry David, Jerry Seinfeld, Ali Wong and John Mulaney.

In addition to the live streaming, the performances were recorded and will appear on Netflix over the course of the coming weeks and months.

The company hopes that the live streaming format will bring in new viewers and has plans to do more than just comedy. Other live shows are in the making, such as 'Dance 100' which pits promising choreographers against each other. The viewers will be able to vote for their favourite contestants.

The competition

Waning subscriber numbers isn't the only reason for Netflix opting for live shows. The streaming giant's greatest competitor, Disney+, broadcasted the Oscars live on its platform earlier this year. Disney+ is also jumping on the live stream band wagon, and will be streaming the hugely popular 'Dancing with the Stars' later this year.

Netflix seems keen not to lose out on live streaming shows. During the first quarter of 2022, Netflix lost over 200,000 subscribers, its first subscriber loss in over a decade.

To compensate for losing subscribers, Netlifx CEO Reed Hastings said Netflix is considering measures to clamp down on people that share passwords to use Netflix for free. In addition to the 221.6 million paying subscribers, it is estimated that 100 million users log in to Netflix 'illegally'.

Netflix will introduce different types of subscription models. Cheaper subscriptions will be on offer, but they will include advertising. The changes are set to be implemented by the end of 2022.

Copyright © 2024 The Brussels Times. All Rights Reserved.