Netflix is exploring something new.
The streaming platform, Netflix, is exploring the idea of livestreaming its stand-up specials and other live content, as per the Deadline report.
According to The Verge, support for livestreams could open up the possibility for Netflix to air live reunions, as well as enable live voting for competition shows.
In a Digital Trends report, it was said that Netflix confirmed to the Deadline that the plan is being overseen by a "small group" of personnel and is currently in the "early stages of development."
The report from the Deadline did not give specific dates when would the first livestreamed content might appear on Netflix.
Netflix Could Also Feature Live Comedy Specials, Competition-based Shows
Netflix could also use livestreaming to air live comedy specials. The company could livestream events like Netflix Is a Joke: The Festival, featuring a raft of stand-up comics.
The comedy festival featured over 130 popular comedians, including Ali Wong, Bill Burr, Jerry Seinfeld, John Mulaney, and more. It will stream from May 19 through June 23.
According to Digital Trends, if Netflix moves ahead with the plan to livestream comedy specials, there might be a few seconds delay with the airing of stand-up shows in case parts of a set were deemed inappropriate for general viewing.
Upcoming Dance 100, a competition-based show, could also be appropriate for livestreaming, and it might pave the way for live voting rounds to determine a winner.
Other options for livestreaming is live reunions for shows such as Selling Sunset, which just aired a reunion special for its fifth season, said the Deadline.
On the other hand, it seems that Netflix isn't ready to livestream sports events yet.
As cited by Digital Trends, Netflix co-CEO Ted Sarandos said: "I'm not saying we never would do sports, but we would have to see a path to growing a big revenue stream and a big profit stream with it."
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Netflix's Move to Livestream Aims to Beat Rivals
In the face of growing competition from other streaming platforms such as Disney+, Apple TV+, and HBO Max, Netflix's growing interest in livestreaming comes as the company looks for ways to entice new sign-ups and retain existing subscribers, as per the Digital Trends report.
Disney+, one of Netflix's biggest competitors, has already gotten into livestreams. Disney+ aired a live showing of the Academy Awards in February. The platform also becomes the new home of the celebrity dance competition series, Dancing With the Stars. The show is set to debut as a live series on the platform later this year.
The Verge reported that based on Netflix's most recent earnings report, the streaming service reported losing subscribers for the first time in over a decade, while Disney+ managed to add 7.9 million new users in the first quarter of 2022.
Netflix has hinted at potentially cracking down on password sharing to help counter a dip in revenue and subscribers. The company also considers adding a cheaper ad-supported streaming option.
According to The Verge, Netflix did not respond when they requested for a comment. Currently, there is not much information available about the upcoming feature yet.
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