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Netflix Weighs New Strategy as Report Highlights Subscriber Engagement Concerns (NFLX)
Netflix (NASDAQ:NFLX) is considering the introduction of live television channels and expanded streaming bundles as executives increasingly focus on signs of weakening subscriber engagement, according to a Wall Street Journal report published on Friday.
The report initially weighed on the stock in premarket trading. However, Netflix shares later recovered and were trading 1% higher ahead of the market open.
According to the Wall Street Journal, Netflix executives raised declining engagement as a key issue during the company's annual business review earlier this spring, despite continued profit growth and customer churn remaining among the lowest in the industry.
The report said engagement metrics, including viewing time and the rate at which subscribers finish television series, have since become a regular topic of discussion at senior management meetings.
Netflix Looks Into Live Channels, Streaming Bundles Amid Engagement Declines | Report
The streamer’s execs have reportedly tossed around bundling Peacock into its offerings
As Netflix faces declining engagement on some of its biggest hits, the streamer is reportedly exploring new routes to entice viewers, including live TV and streaming bundles.
Netflix executives have discussed the idea of adding themed live channels that would stream shows or films of a certain genre, according to a Wall Street Journal report. Should the streamer move forward, the feature would replicate the linear TV model that Netflix revolutionized with streaming over 15 years ago.
The Journal also reported that Netflix is exploring bundling other streaming subscriptions, including Peacock, into its service, leaning into an add-on strategy that Prime Video and Apple TV+ have already embraced.
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