Netflix Considering Selling Original Shows for Syndication Reruns to Other Networks
At this point, it's no surprise that Netflix has been experiencing some challenges in recent months. The streaming giant reported earlier this year that it had lost subscribers, causing stock prices across the entertainment industry to fall and has since been headlines with waves of layoffs and other shifts in an effort to streamline and adjust. Additionally, Netflix has been looking at additional revenue opportunities, including ad-supported tiers and crackdowns on password sharing but now, a new report from Bloomberg indicates that the streamer is looking at syndicating some of its older original series for broadcast on other networks.
Per the report, Netflix is considering the syndication of some of its older original series to broadcast networks around the world as just one strategy for additional revenue. The report, which also indicates that they're considering putting original movies in conventional theaters as well, is something that hasn't been given a final decision yet but is something that's being talked about. No additional details were available.
Considering Netflix's extensive catalog of original series, syndicating some of them could prove to be a somewhat lucrative option — one that would make accessible to audiences who either don't have or can't afford the streaming subscription some of Netflix's best shows. However, one could also argue that it might also contribute to additional decline in subscribers or new subscribers — and as the report notes, making more from existing customers is becoming increasingly important to Netflix.
As for things that are moving forward, it was recently announced that Netflix is working with software giant Microsoft to develop an ad-supported subscription plan. The plan was originally announced back in April.
"Today we are pleased to announce that we have selected Microsoft as our global advertising technology and sales partner," says Netflix in a statement. "Microsoft has the proven ability to support all our advertising needs as we work together to build a new ad-supported offering. More importantly, Microsoft offered the flexibility to innovate over time on both the technology and sales side, as well as strong privacy protections for our members."
"At launch, consumers will have more options to access Netflix's award-winning content," Microsoft said in a statement of their own. "Marketers looking to Microsoft for their advertising needs will have access to the Netflix audience and premium connected TV inventory. Today's announcement also endorses Microsoft's approach to privacy, which is built on protecting customers' information."
What do you think about Netflix considering syndicating older original content for broadcast on other networks? Let us know your thoughts in the comment section.