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Netflix diversifies content to stay ahead

April 1, 2024

With over 260 million registered subscribers at the beginning of 2024, Netflix continues to show unwavering grit when it comes to streaming market domination.

In February 2024, the company confirmed a major live sports deal after signing a 10-year contract with World Wrestling Entertainment (WWE).

The Dates of the Programmes

With the programmes scheduled to start in January 2025, countries and regions like the UK, Canada, the US and Latin America stand a great chance to benefit. In the contract, Netflix agreed to become the home for all WWE shows and specials outside the US, as well as WWE’s Premium Live Events, including the Royal Rumble.

Bela Bajaria, Netflix’s chief content officer, endorsed the collaboration, stating that the two companies were set to bring more entertainment to audiences worldwide. She added that the company was excited about the deal since Raw offers live-action 52 weeks a year, ensuring fans can tune into round-the-clock entertainment. Netflix will also feature WWE’s award-winning documentaries, future projects, and original series.

Netflix’s move to include live streaming for sports follows methods used in other online entertainment sectors like iGaming. Most online platforms include live dealer games streamed from a studio or casino floor to the player’s mobile device. For example, a Jackpot City review showed that players could access live casino games from any location, allowing them to interact remotely with live dealers and other players. With more players showing preference for such experiences, providers are turning to live-streaming content to ensure they remain relevant in an ever-shifting technological era.

Key Leaders Applaud the Move

TKO President and COO Mark Shapiro applauded the move, saying both Netflix and WWE would benefit from the collaboration. He noted that WWE is set to expand its reach, while Netflix will now offer live weekly sporting events on the screen.

Nick Khan, WWE President, welcomed the collaboration, reiterating that Netflix’s extensive dominance in the entertainment sector made it an ideal home for Raw’s events and its ever-increasing customer base. By March 2024, Raw had over 1,600 episodes, blending well-written storylines with compelling characters.

The three-hour show provided a springboard for the career launches of renowned figures like Dwayne Johnson, John Cena, Steve Austin and many others. The show continues to appeal to millions of viewers and ranks as the top show on USA Network, with over 17.5 million unique views yearly.

Netflix’s Ever-Growing Customer Base

By reinventing how it engages users, Netflix continues to pose stiff competition to its rivals. In the last quarter of 2023, the number of subscribers increased by 13.1 million – the largest quarterly increase it has witnessed since its inception. This was despite the streamer’s efforts to crack down on password sharing, which saw its cheaper ad support grow by 70 per cent compared to the previous quarter.

Overall, Netflix’s strategy of diversifying its portfolio has been instrumental in maintaining its position as a leader in the streaming industry. By expanding into new markets like WWE live streaming, Netflix aims to attract and retain subscribers within an increasingly competitive market segment.

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