Netflix is entering the territory of video podcasts, which could mean a seismic shift in its content strategy. Recently, co-CEO Ted Sarandos said that as video podcasts rise in popularity, some may eventually find their way to Netflix.
The Strategic Intent Behind Netflix’s Move
Sarandos further commented that Netflix is “constantly looking at all different types of content and content creators.” These days, the lines between podcasts and talk shows are almost totally blurry, and that means Netflix will try to work with creators in as much media as possible to give consumers what they want.
This move is consistent with Netflix’s broader strategy to diversify its content offerings to attract a greater number of consumers. With the inclusion of video podcasts, Netflix seeks to take its place in the growing demand for on-demand, creator-centric forms of content.
Addressing the Challenges
Limitations of Discovery
Lack of discovery for podcasts is also one of the biggest challenges of Netflix. Unlike YouTube or Spotify, Netflix has an algorithm that is mainly for scripted content; it will lack making spaces for visibility for video podcasts.
Monetization Model
Although Sarandos says that the platform has “the best monetization model on the planet for premium storytelling,” no further details are quite available. Unfortunately, this may deter creators from associating themselves in such a platform that does not have a clear and favorable revenue-sharing model.
Fit for Platform
The streaming service has been formatted to optimize long-format, high-production shows. Podcasts are not too formal and are very spontaneous in their entry, trying not to directly fit into Netflix’s current content structure.
The Road Ahead
Netflix is faced with challenges for a successful entry into video podcasts, which they must soon address. Enhancing discovery features, clarifying monetization strategies, and adapting its platform to accommodate the special things about podcasts would solidify Netflix’s standing as a dominant player in the podcasting arena.
Follow us on WhatsApp, Telegram, Twitter, and Facebook, or subscribe to our weekly newsletter to ensure you don’t miss out on any future updates. Send tips to editorial@techtrendsmedia.co.ke
