Netflix, the world’s largest video streaming service company, will open an online shop. As competition intensifies, it is analyzed as a move to find new revenue sources.
Netflix on the 10th said it would open in the United States first and expand to other countries in the coming months.
“Netflix is facing more and more competitors in the streaming market,” Reuters said. “Online stores will be a new source of revenue for Netflix.”
Currently, Netflix has more than 200 million subscribers. However, latecomers such as Disney Plus, Peacock and Paramount Plus are continuously increasing their number of subscribers.
In addition, Warner Media, which has streaming platform HBOMax, is planning to merge with Discovery and introduce a new OTT service that will compete with Netflix.
“Netflix, which had no other revenue channel than expanding subscribers despite strong challenges from latecomers, has chosen a strategy to increase sales by establishing an online store,” said film media Deadline.
Netflix online shop sells products related to content that has become popular with viewers. Streetwear products such as hoodies and hats, home decoration products such as pillows and small tables, watches and jewelry, collection characters and games.
Netflix will sell character clothing and dolls in popular animations “Yasuke” and “Eden” this month and also release products based on hit films “Strange Stories,” “Lupin” and “Witcher.”
Josh Simon, vice president of consumer product sales, said, “We are happy to provide new ways to connect with fans’ favorite (video content) stories.”
Simon worked for Nike and joined Netflix last year.