On Thursday (10), Netflix announced a move that will diversify the revenue of the company: Netflix.shop, its own e-commerce that will focus on the sale of film and series products present in the our CATALOGUE of company bonds.
The site was created in partnership with Shopify and, for now, it is only available on the United States. There is still no scheduled release date for Brazil or other countries in the world.
The move is strategic for the company to diversify revenue, especially considering that the platform saw the number of new subscribers drop in the first quarter of 2021 compared to 2020.
The decrease is mainly due to the growing entry of new players in the streaming market and consequent competitiveness in the on demand title market, with launches of services linked to large companies such as HBO, with HBO Max; Disney, with Disney+ and Hulu, as well as older competitors such as Amazon Prime, from the eponymous retailer.
Unlike some rivals, Netflix does not sell advertising within its streaming service. The company's revenue comes from monthly fee payments from more than 200 million global subscribers.
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Changing the route
Since last year, the streaming giant has been looking to invest in products, something that began with the arrival of Josh Simon, former executive of Nike and current director of products at Netflix. The executive has even closed deals with retailers such as Walmart, Amazon, Sephora and Target to market several items related to the series and the company's films.
For now, Simon has announced that e-commerce will sell items such as caps, t-shirts, sweatshirts and pillows from the French crime series Lupine, which has been a great success on the platform. And, in the future, new items from other audiovisual products must be sold on the site.
Unlike the competitor Disney, Netflix does not foresee the opening of physical stores for its products. Simon even stated that the company knows that revenue from the new e-commerce will not match the revenue from agreements with stores and fashion brands.
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