Netflix (NFLX), the largest streaming platform in the world has decided to expand its operations, initially in the U.S. and later in the rest of the world for its web fans. The streaming service will open retail stores called ‘Netflix House’ in several locations across the nation. The store will offer immersive experiences of web fans’ favorite shows and more.
Web fans of Netflix can shop for apparel, eat show-themed food or even play games associated with shows and films that are streamed on Netflix. The Netflix House will offer a wide variety of experiences, which is part shop and part restaurant with an added bonus of immersive entertainment.
First reported by Bloomberg, the outlet provided some information including a 2025 launch date and said that the locations would open in permanent spaces.
John Simon, who is the Vice President of Consumer Products at Netflix told Bloomberg, “We’ve seen how much fans love to immerse themselves in the world of our movies and TV shows, and we’ve been thinking a lot about how we take that to the next level.”
Netflix already sells merchandise online. It has experimented with pop-up stores in the past. Now, it is looking at permanent locations as it looks to expand its revenues. It is also look at alternative revenue sources after the slump in DVD sales.
Netflix had set up a Squid Game: The Trials, in Los Angeles, California. It launched a stage show prequel in London, England for Stranger Things.
Netflix also hosted The Queen’s Ball: A Bridgerton Experience in 10 cities in North America that was extremely popular with its web fans. Its popup restaurant with themed food called Netflix Bites was also popular with web fans.
Now, it is exploring permanent locations not only to add revenue but to also boost its streaming services by linking it to additional immersive experiences and retail therapy for its web fans in the form of theme-based merchandise and food.
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CWEB News Summarized Business and Stock Newsletter October 12, 2023
