Netflix is selling clothes now?
Netflix is cashing in, launching an all new online store with all your fav TV shows
What's the key learning?
- Netflix is turning its high profile characters into even more profitable merchandise
- The streaming market has become saturated which has slowed Netflix's growth
- Selling merchandise enables Netflix to continue diversifying its revenue away from monthly subscriptions
NETFLIX IS DOING WHAT NOW?
Netflix has partnered with Shopify to launch an online store where you can buy Netflix show-themed clothing and accessories. It's called... Netflix.shop (creative right?)
They’ve already done collabs with big brands in the US like Walmart and Sephora, but this is the first time you can buy something from the streaming service directly.
Bridgerton tailcoats are rumoured to be flying off the shelves (according to a highly questionable Flux strawpoll).
So, what's the key learning?
Netflix is learning from the best - Disney - by turning their high profile characters into high-margin merchandise.
We know that Netflix is now competing with the likes of Hulu, Disney+, HBO Max, Binge, Stan...And as a result, Netflix's growth has slowed.
So now, the ‘Flix is hoping it can create a new revenue stream by leveraging the shows and characters of its tv hits.