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The Hustle Daily Show
Netflix is turning up the volume on merch
Oct 4, 2023
Netflix plans to boost revenue by focusing on merchandise for its original shows. Microsoft CEO testifies in antitrust trial against Google. Chipotle collaborates with robots. Macy's plans for new stores. Netflix's expansion into merchandise and real-life experiences.
12:11
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Quick takeaways
- Netflix is venturing into merchandise to capture more revenue by offering products related to its original content and planning real-life experiences tied to its shows.
- While Disney has iconic characters for merchandise, Netflix compensates for a lack of universally recognizable characters by focusing on unique experiences tied to its shows and being proactive in securing partnerships and developing merchandise for upcoming shows.
Deep dives
Netflix expands merchandise business
Netflix is venturing into the world of merchandise to capture more revenue. The streaming giant has started offering products related to its original content to cater to super fans. They have released items like a Stranger Things T-shirt featuring the Hellfire Club, bridal dresses inspired by Bridgerton, and a squid game bear brick sculpture. Netflix is also planning real-life experiences tied to its shows and has learned from missed opportunities in the past. For example, when viral moments occurred, like Jenna Ortega's dance in Wednesday, fans rushed to buy merch and were left disappointed. Going forward, the company is being more proactive and securing partnerships with retailers in advance to have merch ready for upcoming shows.
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