How Netflix Is Trying to Attract More Subscribers: 7 Ways
When Netflix started streaming services in 2007, it had a unique offering. It was the only platform where you could sign up to watch TV shows and movies on demand, and it revolutionized the way we consume media.
I was so successful, in fact, that many other companies followed in its path. Nowadays, there’s so much competition in the streaming world, and Netflix finds it hard to keep up.
In 2022 was the first time Netflix started losing subscribers en-mass. But the company will not take this lying down, and this is how it plans to attract more subscribers.
1. Exclusive Mobile Games for Subscribers
Did you know that Netflix has a large selection of video games available on both iOS and Android? As the Financial Times reports that only 1% of subscribers use these games, we won’t be surprised if you haven’t heard of them.
However,Netflix is still willing to bet on the gaming industryto boost its profits. The idea is that the games will only be open to those with an active subscription, encouraging people to keep paying.
Some of thebest Netflix games you can play on your phoneare the Stranger Things games (yes, there is more than one) and This Is a True Story - a beautiful quest for water.
2. Adding an Ad-Supported Subscription Plan
There are multiplereasons that resulted in Netflix losing subscribersin 2022. One of the main ones was the rise in subscription prices in the US and Canada. As other platforms have cheaper options, many users have decided to jump ship.
This is probably why Netflix has decided to introduce a new subscription tier by the beginning of 2023. One that will include ads but will be more affordable.
For now, there aren’t many details about the tier. However, there are some assumptions we can make regardingwhat Netflix with ads will look like. According toThe Verge, that subscription may not include the entire Netflix library. While we don’t know what shows or movies may not be included at the time of this writing,missing content could harm Netflix’s ad-supported tier.
3. Growing Exclusive Franchises
One of Netflix’s biggest competitors is Disney+, which is due to the media conglomerate being home to Marvel, Star Wars, and many other movie franchises.
Disney doesn’t need to convince people to buy into new movies and characters with each release. Instead, they know people who are fans of one movie will tune in to see their favorite superheroes or villains in their new adventures.
Netflix has already achieved that sort of success with TV franchises such as Stranger Things and Bridgerton. Now, they are trying to do this within films as well.
The Gray Man, which was released in July 2022, was a step in that direction. Anthony and Joe Russo, who directed Avengers: Infinity War and Endgame, are responsible for this Netflix creation.
The movie gained 88.5 million viewing hours in three days. Shortly after, Netflix announced a sequel and a spin-off to expand on this universe.
4. A Reality Show Based on Squid Games
Speaking of successful shows on Netflix, Squid Games was undoubtedly a phenomenon when it was first released, and it was such a triumph that it was quickly renewed for a second season. But that’s not the only way Netflix plans on capitalizing on this show to gain more subscribers.
In June 2022, the company announced that it would transfer the fictional concept into a reality show (minus the gruesome killings). It will be the largest show ever created, with a cast of 456 people and a prize of $4.56 million.
Who can resist watching this type of spectacle? You can evenapply to be part of the Squid Games Challenge.
5. Bringing Back Live TV
In May 2022, it was reported thatNetflix was considering live streaming some contentfor the first time. This product is in its initial development, so we’re not sure when it will be rolled out. However, the report has confirmed that it’s a real possibility.
The option of live broadcasting can contribute greatly to Netflix’s offering of reality TV and competition shows. Just think of shows like American Idol, X Factor, etc. If Netflix chooses this route, it’ll mean people can vote in real-time for shows like Dance100 or The Circle, which is a true selling point for a Netflix subscription.
The company could also use live streaming for their comedy specials and festivals, turning them into must-see events. Like the Real Housewives, Netflix could also offer live reunion shows.
6. Potentially Buying Out Roku
At the time of writing these lines, the rumor of Netflix buying Roku is simply that, a rumor. However, since Roku has put a limit on its employees selling their stocks in the company, it may turn out to be true. Only time will tell.
The main reason Netflix would consider buying Roku relates to the second point in this article. Since we already know that the company wants to add a subscription tier that includes ads, Roku can offer the perfect business model.
The Roku Channel is a major advertising revenue generator for Roku. Thanks to running ads, it offers free access to movies, TV shows, and channels. In addition, if Netflix buys Roku, it will instantly add 60 million subscribers to its portfolio.
7. Reducing Password Sharing
The last point on the list is a hail-mary for Netflix. It is common knowledge that many people don’t pay for their own Netflix subscription and, in fact, use their parents’, partners’, or friends’ passwords. That is whyNetflix started trailing new password-sharing featuresin March 2022.
In a bid to gain new subscribers but still capitalize on password sharing, one of the options allows users to add a user from a different residence at a lower price. The company also trailed the option to transfer your watching history into a new account to encourage new sign-ups.
Additionally,Netflix launched an Add a Home featurewhich lets you use your account in different homes.
Both features were tested in a handful of countries, and there are no details on whether they’ll be rolled out internationally.
Can Netflix Regain Its Glory?
The competition in the streaming world is fierce. As much as Netflix was a trailblazer when it started, it’s starting to lag behind other major players in the market today.
It’s hard to know if any of these means will help Netflix gain more users or if it’s just time to throw in the towel.
We take at look at the best Netflix alternatives, of which there are a surprising number—both free and paid.
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