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How Netflix plans to find the inside of Star Wars
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Netflix is changing the way we watch television — but at a critical moment in the midst of a decline in subscribers, the streaming giant is hoping to capitalize on the popularity of its most successful show.
Key points:
The franchise strategy aims to build brands from television shows and movies
Netflix executive says the move was inspired by Walt Disney and Star Wars
After years of accumulating subscribers, Netflix lost 200,000 subscribers in the first quarter of this year
When it first launched, Netflix broke Hollywood rules to create an $82 billion global stream that the rest of the entertainment industry quickly imitated.
But as growth slowed, he looked back to find a way forward by borrowing a page from Walt Disney’s playbook: building a brand that crossed film, television, games, and consumer products.
The tech company has revealed that it is planning ways to make more out of its bigger shows and films, with universes and characters that can be returned to again and again, like Mickey Mouse or Star Wars.
The streaming giant hopes to model their initiatives from successful franchises like Star Wars, which have spanned media generations and genres. (Provided: Lucasfilm)
“We wanted to have our version of Star Wars or Harry Potter, and we worked really hard to build it,” said Matthew Thunell, Netflix vice president of Stranger Things.
“But it wasn’t built overnight.”
The franchise strategy comes at a critical time, after two rounds of layoffs amid lost customers.
The news also comes as streaming companies race to build cheaper, ad-supported subscription plans, which they once promised they would never do.
Plans to give more ‘Stranger Things Treatment’ shows
Netflix executives appointed Stranger Things as the model, the streaming giant’s sci-fi hitter.
The show’s fourth season has officially been watched over a billion hours — a feat the Netflix show has achieved only once before with the South Korean drama Squid Game.
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