WASHINGTON (dpa-AFX) - Netflix, Inc. (NFLX) is exploring live TV channels and streaming bundles as it works to maintain viewer engagement amid signs of decline, the Wall Street Journal reported citing people familiar with the matter.
The streaming service is considering new strategies to compete with rivals and keep subscribers interested in its platform.
As per the report, Netflix executives, during the company's annual business review, have discussed adding themed live channels that would stream shows or films organized by genre. Additionally, the company is exploring bundling other streaming subscriptions, including Peacock, into its service. Prime Video and Apple TV+ have already adopted similar add-on strategies.
The company faces viewership declines for some of its major series. 'The Four Seasons,' 'Avatar: The Last Airbender,' 'Running Point,' 'One Piece,' and 'Beef' each saw audience declines in their second seasons. Netflix executives noted declining subscriber engagement, though profits were rising and customer defections remained at industry lows.
Live channels and bundling would represent the latest formatting additions Netflix implements to drive audience engagement. The streaming service has recently expanded into live programming, licensed video podcasts, social media creator content, and launched a cheaper ad-supported subscription tier in 2022.
In the overnight trading on Nasdaq, Netflix shares were losing around 0.87%, extending the 0.16% loss on Thursday's regular trading close.
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