Famous streaming giant Netflix is planning to pursue a new franchise strategy in light of a steep decline in subscribers earlier this year, which also led to fluctuations in its shares.
In recent interviews with Reuters, executives discussed detailed plans for this new strategy. They pointed to ‘Stranger Things’ as a model for this, with at least a dozen shows and films that could follow. The Netflix original series is a hugely-popular fan favourite, which released a fourth season (in parts) in May-July. At the time, this had caused the streaming service to temporarily crash due to the number of times it was streamed worldwide (more than one billion hours).
Anthony and Joe Russo, the directors of world-famous films like ‘Avengers: Endgame’ and ‘The Gray Man’, explained that this initiative was created primarily with expansion.
The company reported its first subscriber loss in April 2011– news that was followed by hundreds of job cuts and a sharp drop in its shares.
After losing about 70 per cent of its shares this year, it remains to be seen how well the streaming giant’s franchise strategy could capitalise on the popularity of its best shows and films and, in effect, move on.
