Netflix Considers Live Streaming After Losing 2 Lakh Paid Subscribers

Netflix might introduce ads soon.

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Taking a leaf from the TV playbook, Netflix is reportedly working on a live streaming option for an upcoming batch of stand-up specials and unscripted shows.

This comes after the world's largest streaming platform lost subscribers for the first time in a decade, sending its shares plummeting as much as 40 percent.

The feature is in its early stages of development, Netflix confirmed to Deadline. It could enable live voting and allow the platform to broadcast live shows, like the reunion recently held by the real estate reality show Selling Sunset.

The platform could also bring back its live stand-up show, Netflix Is a Joke, an in-person event held in Los Angeles in April-May, featuring over 130 comedians, including Bill Burr and Jerry Seinfeld.

Pulling Out All the Stops

In the first quarter of 2022, Netflix lost 2 lakh paid memberships globally. In the second quarter, it expects to shed 2 million more.

Netflix's subscriber growth has been diminishing for a while. It added just 18.2 million subscribers worldwide in 2021, compared to 36 million in 2020. Its revenue growth is also declining steadily.

The company recently announced some changes to cash in on those who currently access the service, and seems to be considering an ad-supported tier. It is unclear whether the Netflix live streams will be monetised.

Netflix isn't the first to get into live streaming, however. Rival Disney Plus, which added 7.9 million new users in the last quarter, has already adopted the model. It aired the Academy Awards live for the first time in February.

Later this year, it will also live stream the celebrity dance competition series Dancing With the Stars.

Live streaming sports events has also proven to be very popular. In India, Disney+ Hotstar allows you to watch the Indian Premier League live.

Going by London-based research firm Omdia's data, Disney+ Hotstar leads the subscription market with a 41 percent share. Eros Now and Amazon Prime Video follow with a 24 percent and a 9 percent share respectively.

Netflix sits at just 7 percent.

Netflix CEO Reed Hastings is also looking into buying global rights for live sports, including Formula One, since sports docuseries have been doing well on the platform, a Bloomberg report suggested.

(With inputs from Deadline and Bloomberg)