Netflix is exploring livestreaming options for the first time
What's the story
The last few months haven't been good for Netflix, with the company's earnings report showing customer loss for the first time in a decade.
As the company tries to get back up from post-pandemic lows, reports have surfaced saying that Netflix is looking into livestreaming opportunities.
As per a Deadline report, the company has not set a timeline for the rollout.
Context
Why does this story matter?
It wasn't that long ago that the name Netflix was synonymous with OTT. That's not the case anymore as its rivals like Disney Plus have started to cut down the gap.
The company already has plans to reclaim lost ground by cracking down on password sharing and introducing a cheaper ad-supported option.
The addition of livestreaming is also a part of the reclamation operation.
Possibilities
Addition of livestreaming opens up several opportunities for Netflix
Netflix has confirmed that it is in the early stages of developing a livestreaming service. The company will use the capability for streaming comedy stand-ups and unscripted shows.
With competitions like Dance 100 in the pipeline, Netflix will be able to use it for live voting in talent contests.
This also opens up the possibility of airing live reunions of shows.
Sports
Decision to enter livestreaming is unrelated to covering sports
As Netflix plans to rollout livestreaming service, the inevitable question of sports streaming had to have come up in your head at least once.
The questions are warranted considering the resounding success of its F1 series Drive to Survive.
However, we understand that this move is unrelated to those conversations. But who knows, we may see Netflix covering live sports at some point.
Competition
Is Netflix challenging linear TV networks?
Netflix's last earnings report sent shock waves around the world as the company lost customers for the first time in a decade. For the old media houses who have made it a mission to challenge the streaming giant, it was welcoming news.
The company's plan to enter a field dominated by linear TV can be looked at as a direct challenge to its rivals.