Netflix is confident about the company’s future prospects

Netflix’s growth appears to be declining after a spike driven by pandemic in 2020. Globally, it only attracted 1.5 million new customers in Q2 2021, a far cry from the 10.1 million people who signed up in the same period last year. Animated films continued to be a strong appeal even as subscriber growth slowed.

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As US Nielsen data shows, streaming video accounted for 27% of total screen time in Q2. That makes Netflix isn’t worried about slowing membership growth, as it  believes there is still plenty of space for expansion.

Netflix Hub selling merchandise to jump on hype for shows like ‘Squid Game’

In a partnership with Walmart, Netflix has unveiled Netflix Hub, which claims to be the “biggest dedicated online shopping destination for Netflix items in the United States”. Netflix Hub is the company’s first web storefront with a major retailer, and they’re going big with it.
According to an announcement, Netflix Hub sells merchandise associated with new and beloved series on the streaming service.  As the pandemic boosts streaming figures and online purchasing habits, Walmart and Netflix’s new merchandising store sits at the nexus of commerce and fan culture.

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The partnership gives Walmart an opportunity to get to know consumer culture and increase e-commerce sales. Because an increasing number of brands are attempting to stay current with trends in the fast-paced social media era. Closer ties to Netflix might help Walmart compete with Amazon, which has its own streaming platform and e-commerce marketplace.

Netflix Hub offer better experience

With the launch of Netflix Hub, fans of Stranger Things, The Witcher, Squid Game, and CoComelon can now buy merchandise from their favorite shows.

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Besides the “innovative shopping experiences,” Walmart and Netflix emphasize that this unique hub will include things like a voting mechanism that will let customers choose products from Netflix premieres that they want to see. In partnering with Walmart, Netflix has the opportunity to diversify its revenue for the streaming category, while Walmart can attach its brand more closely to pop culture.  The partnership provides special products for Netflix hits such as “Stranger Things,” “The Witcher,” and “Squid Game,” the latter of which has become a global phenomenon overnight.

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Netflix Hub brings together some of its most popular shows in its first digital storefront, and Walmart is proud to partner with Netflix on this new adventure that will let customers dive even deeper into their favorite stories and characters, according to Walmart executive vice president, Jeff Evans. Customers will be able to interact with stories and characters from their favorite series through Netflix Hub at Walmart, which will contain exclusive merchandise and unique experiences.

Netflix is betting on gaming to flourish

Netflix stated in a release that it views gaming as an additional content category, similar to its development into original films, animation, and unscripted television. The streamer intends to begin with mobile games as part within each membership, with no further fees.
As a result of the huge success of Stranger Things, Netflix has launched its first game for Android users in Poland. Most of Netflix’s interactive specials are focused toward children in more recent expansion efforts.

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Reference Sources:

  1. Animation World Network: https://www.awn.com/
  2. Cartoon Brew – Technology: https://www.cartoonbrew.com/tech
  3. Befores & Afters – Visual effects and animation journalist: https://beforesandafters.com/
  4. Bloomberg News: https://www.bloomberg.com/news/
  5. Insider: https://www.insider.com/
  6. Inverse: https://www.inverse.com/
  7. Kidscreen: https://kidscreen.com/2021/08/27/netflix-launches-first-games/
  8. Retail Touch Point: https://retailtouchpoints.com/features/news-briefs/walmart-launches-netflix-retail-hub