Content is king, certainly when it comes to persuading consumers to shell out for streaming services. Netflix has fought back from Covid shutdowns and has a roster of new material scheduled for Q4 that bosses say puts them in ‘uncharted’ territory.
Subscriber numbers have been picking up, thanks primarily to hit series like Squid Games and as nights close in Netflix is anticipating a surge in demand as old favourites return. It doesn’t discount the increasing competition, not just in getting eyeballs to its content but in persuading content creators to sign on the dotted line.
AJ Bell’s Russ Mould said: “Not all series can enjoy cult status, but the Netflix juggernaut does dangle the possibility of global consumption, of taking a small foreign language project and elevating it to something that is on everybody’s watch list.
“Spend money to make money certainly seems to have been the zeitgeist here and the same ethos is expected to spread to game design and delivery. Being the number one choice in entertainment is the goal and the focus will be a joined up, ad free experience.
“But this is a long-term goal and the immediate one must be damage limitation following a comedy special which has been labelled as ‘transphobic’ by some groups and will see some staff stage a walk out later today.
“The issue has somewhat overshadowed these results and wasn’t addressed during the investor briefing but during a later interview with Variety one of the bosses did accept he’d handled the situation poorly, though explained that creative freedom always had the potential to create division. It’s a difficult line to tread and investors will walk their own path on this one.”