Netflix has expanded its Netflix Preview Club to over 10,000 previewers.
👉 Background: it’s fair to say the Netflix could do no wrong over the last few years. It released banger original shows like Stranger Things, Bridgerton, The Crown and its user base continually grew.
👉 What happened: Two years ago, Netflix launched "Netflix Preview Club" - this meant 2,000 previewers would get early access to Netflix movies and provide feedback. This is common in Hollywood.
👉 What else: Now, Netflix has expanded its Netflix Preview Club to over 10,000 previewers. And this is just another sign that Netflix knows it just can’t afford to get its original content series’ wrong.
What's the key learning?
💡 As the industry gets tougher, each and every risk becomes more meaningful.. And existential. Content is king for streaming services, and Netflix is clearly looking to go the extra mile to make sure its content is up to scratch for its subscribers.
💡It makes sense - Stranger Things Season 4 cost Netflix over $30 million USD per episode. And Netflix intends to spend $17 billion on content next year, so it’s pretty essential that it gets it right.
💡And if a series like Stranger Thing flops, it can hurt Netflix’s user growth and profitability for the rest of the year. So while the Preview Club get access to early releases, Netflix captures valuable data to avoid a financial flop.
