While streamers pull in customers and play up the strength of their libraries by touting their exclusive movies and shows, licensed content drives a significant portion of audience engagement time.
From January to June 2023, 45% of viewing on Netflix came from licensed titles, according to the company's s first-ever biannual viewing report, "What We Watched: A Netflix Engagement Report."
The resurgence of licensed content complicates a vision of the streaming wars in which rivals hoarded content to fuel their own growth. And it highlights the particular strengths of Netflix in finding an audience for programming that isn't theirs.
Shows like "Suits," for instance, have enjoyed a second life on the platform, as old fans and newcomers sink their teeth into a dramatic series built for television but one that is thriving on streaming.
The latest data underscores how licensing remains a crucial part of the streaming business model, even as sharing content with rivals was once characterized as arming a competitor. But the comforts of familiar shows and the deep repository of older content is part of what keeps streaming customers hooked on the platform. Licensed content keeps viewers engaged in between marquee premiers and offers audiences background or ambient viewing, during downtime at home, completing chores or winding down at the end of the day.
Netflix in particular has elevated licensed content that was available on other networks, but only now has enjoyed a new kind of success.
"What's interesting is a show like 'Suits,' which has been played on USA for a long time, has been available on Peacock and had been available on Amazon for a couple of years before it hit Netflix, and yet we were able to unlock this enormous, enormous global audience for it," Netflix Co-CEO Ted Sarandos said in response to question from Yahoo Finance's Alexandra Canal regrading its licensing strategy.
"That's the combination of our large subscriber base and our recommendation system that knew to put 'Suits' in front of people who were going love it the most."
But Netflix doesn't plan to license its own content to competitors any time soon.
"I do not think that that necessarily would happen in reverse," Sarandos continued. "I do think that we can add tremendous value when we license content, I'm not positive that that's reciprocal."
"stock" - Google News
December 16, 2023 at 01:12AM
https://ift.tt/dlVZgTC
Stock market news today: Stocks muted but head for winning week - Yahoo Finance
"stock" - Google News
https://ift.tt/HqBQPZN
https://ift.tt/gTQB97m
Bagikan Berita Ini
0 Response to "Stock market news today: Stocks muted but head for winning week - Yahoo Finance"
Post a Comment