As a seasoned gamer with a penchant for streaming services and a soft spot for sports, I find Netflix’s latest moves intriguing. The idea of NFL games on Netflix is not just exciting, but also a bit surreal. Picture it – binge-watching Stranger Things and suddenly finding myself in the middle of a live NFL game, complete with Netflix’s unique touch!
As a passionate viewer myself, I’d say even though the NFL dominates TV programming, Netflix is confident it has something unique to contribute too.
During a Financial Times conference last Friday, Netflix’s joint CEO, Greg Peters, discussed several key areas relevant to their streaming service. Among these topics were his views on the role of artificial intelligence in the entertainment industry, as well as Netflix’s venture into advertising, a field that he personally oversees.
As a dedicated gamer, I can’t help but notice the buzz surrounding live sports, particularly Netflix. In the realm of the NFL, Peters mentioned that Netflix views it as a unique event rather than a regular occurrence (“for one day, football will stream on Netflix,” he said). He also hinted that Netflix might tackle NFL games in a way that sets them apart from other broadcasters.
Peters mentioned they aim to give a touch of Netflix-style production. This means integrating some elements involving their talent, such as additional content, to make the gaming experience more enjoyable and exciting.
And, notably, Peters did not dismiss the potential of Netflix expanding its sports portfolio.
Peters expressed enthusiasm about the prospect of accomplishing those tasks, stating they’d be fantastic. However, he noted that finding a solution that aligns with the business’s needs can be tricky, especially with these types of deals. He suggested maintaining flexibility and creativity in finding solutions, as well as exploring possibilities at the edges of what’s been done before.
Indeed, the phrase “never say never” can be aptly applied to Netflix’s stance on advertising as well. Initially, they made it clear that they were not involved in the advertising sector. However, things took a surprising turn when their then-CEO, Reed Hastings, stunned the financial world by revealing plans for advertising during an earnings call.
Peters mentioned that the decision was made swiftly during the pandemic, which initially boosted subscriber growth significantly, but eventually, this growth plateaued.
Peters explained that by accelerating roughly two years’ worth of growth in just two quarters, we had reached a barrier. This realization meant that all the strategies we had been preparing for the following two years needed to be implemented immediately. In other words, a pressing situation forced us to prioritize our decisions more sharply. As a result, we swiftly concluded that it was essential to launch an advertising campaign and do so as soon as possible.
Additionally, he highlighted the difference between Netflix’s gradual strategy and Amazon’s swift move. In fact, Amazon recently introduced advertisements across all Prime Video subscriptions, resulting in a surge of content supply within the market.
As a devoted admirer, I’d put it this way: “Amazon made a splashy entrance into the market, if you ask me. They seem to be more of an advertising powerhouse at heart, and that’s deeply ingrained in their identity. Their strategy was clear: it’s all about advertising, with the option for users to opt-out if they wish. But make no mistake, advertising is the priority. Just like Amazon does, they approached this new venture by saying, ‘Your profit is our opportunity.’ In essence, they’re ready to dive deep, compete from the bottom, and that’s their tried-and-true method.
He went on to say that we haven’t achieved what was suggested because, in his opinion, our approach is different. Our approach is, we hold some of the most significant titles from a societal and cultural standpoint at any given moment. These are titles that brands or advertising partners aspire to associate with. They want to be part of the broader conversation about society. Therefore, we aim to lead in the market in this respect, and also strive to expand upon it.
Additionally, Peters discussed generative AI, expressing his enthusiasm for its possibilities but cautioning that it might not immediately revolutionize things as dramatically as some suggest.
Peters stated that for those who are actively utilizing the technologies, we’ve moved beyond the initial excitement phase. Now, people using these technologies understand that transitioning from a demonstration to a large-scale production with high-quality results requires more effort and time than initially anticipated.
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2024-09-20 20:24