Netflix’s business model is constantly evolving and shifting alongside societal trends. That’s why it remains as one of the biggest players in the entertainment market after all these years.
The original concept of Netflix was to offer television series and films on demand, available for people to watch whenever they felt like it. This still makes up the bulk of the content, but now there’s a greater emphasis on live content. This could be thanks to the popularity of live streaming in other sectors of the entertainment industry.
Netflix Has Introduced Several Live Offerings
Netflix has rapidly enhanced its variety of live content over the last couple of years, with some high-profile additions to the catalog. The biggest of these has been the recent deal with the WWE, in which Netflix paid a whopping $5 billion for exclusive rights to the wrestling content. Along with the availability of classics from the WWE archive, Netflix now has all the live events on offer. Subscribers are alerted when these will occur, and can watch them as they happen directly from the platform.
WWE may be the highest profile addition to Netflix, but it’s not the only piece of live content available. There have been various comedy specials over the last few years, such as Chris Rock: Selective Outrage. There was also the Netflix Cup, which was a crossover with stars from Formula 1: Drive to Survive and Full Swing. The best thing about the live content on Netflix is that it’s still available to watch afterwards, even if you missed it.
Strong Influence of Live Streaming Across the Mainstream
There’s a good chance that the rise of live streaming on Netflix was influenced by the live streaming boom that has occurred across various other sectors in recent times. The technology was first introduced in casino online live games, which have been a revelation at online casinos. The first offerings were simple live versions of classic tables, but now there are plenty of spinoffs and new options designed to appeal to the growing audience for live games. These include games like Mega Fire Blaze Roulette and Adventures Beyond Wonderland Live.
After live streaming gained traction at online casinos, social media helped it take the world by storm. Facebook introduced Facebook Live in 2016, and it swiftly became one of the most popular tools on the platform. Soon after that, it spread across other industries, including e-commerce. Now, it’s impossible for the entertainment industry to ignore, which is why Netflix has gotten on board with it.
Another reason why Netflix has pivoted towards live content has been because some of its competitors have gone down the same route. Indeed, Amazon Prime pioneered this when it picked up the rights for various sporting competitions, including the Premier League. The question remains to be seen about what other streaming platforms may now follow.
With live streaming taking the mainstream by storm, it’s no surprise that Netflix has evolved and started including live content. Now, streaming services are likely to become hybrid entertainment platforms that offer a mix of live and on-demand content.
