Netflix initially built itself on on-demand content and helped kickstart the streaming era. Now, though, its business model is evolving, and it’s investing more of its mammoth production budget into live entertainment.
This is because live streaming has recently taken the world by storm, and today’s internet users want content that’s happening in the moment. This could lead to increased competition between streaming services to see who can produce the most unique live content.
Live Streaming is Hugely Popular Among the Digital Generation
Live streaming first gained traction in the early 2010s, with Twitch bringing about the idea of people streaming content live for audiences at home. The online casino sector was also an early adopter, and now casino live games are among the most prominent options at these sites. They’ve gone way beyond the traditional table games and now include game show-style options like Deal or No Deal: The Big Draw or Buffalo Blitz Live as well. This highlights how broad the demographic of live casino players has become.
Today’s digital audiences expect to find live streaming everywhere, from social media to e-commerce. They enjoy the way it puts them at the centre of the action and even gives them a chance to contribute to the stream. The comment function allows for this, with streamers able to interact with their viewers in real time. Netflix has witnessed the rise of this technology and realised that it needed to get on board with it to keep attracting new viewers to the platform.
Netflix Already Going Heavy on Live Content
Many of the leading platforms have started to invest more in live content, and now it’s commonplace to find live sports on streaming services. Netflix has been a trailblazer once again, though, and has thought outside the box with its live options. It has invested heavily in the WWE and boxing, with some huge events now shown exclusively on the platform.
It has gone beyond this with other live events, such as the recent Skyscraper Live. Alex Honnold free-soloed the Taipei 101 skyscraper with Netflix viewers around the world watching him with bated breath in real time. This was a seminal moment, as it showed how there’s an opportunity for streaming platforms to come up with innovative ideas about the kind of events they decide to produce.
How Could Streaming Services Expand Their Live Content Further?
With Netflix showing that it’s willing to be inventive with its live content, there’s no limit to what’s possible in the future. It’s likely that there will be even more extreme activities and world record attempts.
With streaming services going heavy on reality television, live streaming could provide viewers with another way to enjoy this type of content. Instead of only seeing the edited versions of shows like Wild Croc Territory, Netflix could give viewers the opportunity to watch everything that happens in real time.
With live content enjoying great success on streaming services, there’s a strong chance that it will be more prominent in the future. Any topic is fair game when it comes to live content, and there are likely to be many innovative titles.
