Topline
Netflix announced Thursday it is venturing into live streaming events with a comedy special from Chris Rock, following other streamers like Amazon Prime Video and AppleTV+ outside of pre-taped programming.
Chris Rock speaks onstage at the National Board of Review annual awards gala at Cipriani 42nd Street … [+]
Key Facts
Netflix said Thursday that Rock will be the first artist to perform live on the streaming service, in a special that will air globally in early 2023.
Several mainstream streaming services have already ventured into live programming: Amazon Prime Video started airing Thursday night football games this year, Apple TV+ began streaming Friday night baseball games, Peacock carries dozens of live TV channels and broadcasts live sports games and Hulu offers a live TV extension.
Netflix’s venture into live streaming comes days after it was reported the streaming service is exploring offering live sports and has previously been in talks to get the streaming rights for Formula One and the World Surf League.
Key Background
Live streaming isn’t the only new capability coming to Netflix from other streaming services. This month it launched its cheaper, ad-supported tier for $6.99 a month, with Disney following suit with a$7.99 monthly basic package, which is launching in December. When HBO Max and Discovery+ combine into one service next year, it will offer a free subscription with ads, like Peacock does now. Earlier this year, Netflix reported subscriber losses for the first time in 10 years, though it rebounded at the end of the third quarter. In a bid to invest in its original series, much like Disney does, Netflix plans to launch a reality show based off Squid Game and announced this week it’s launching a virtual reality game based off of Stranger Things. Live sports has already been a big payoff for Amazon Prime Video. During its first week, it averaged 13.3 million viewers alone and brought record signups to the service.
Big Number
223.09 million. That’s how many subscribers Netflix reported having last month. WarnerBros Discovery reported last week that it had 95 million subscribers between HBO, HBO Max and Discovery+. Disney+ has 164.2 million. Netflix is trading for roughly $275 a share, down from the roughly $682 it was trading at one year ago.
Further Reading
Netflix Adds 2.4 Million Subscribers After Months Of Declines (Forbes)
Netflix’s Cheaper Ad-Supported Tier Launching November 3 (Forbes)
HBO Max And Discovery+ Will Combine Into One Streaming Service (Forbes)
Disney+ Launching Cheaper Ad-Supported Tier In December (Forbes)
Source: https://www.forbes.com/sites/marisadellatto/2022/11/10/chris-rock-will-perform-netflixs-first-ever-live-stand-up-show/