Sunday, June 13, 2021

Netflix: the store!

There will be ‘Lupine’ pillows and Netflix boxer shorts.

There will be caps, necklaces, charms and hoodies, all for sale at Netflix.shop, a website that launches Thursday, when the world’s largest streaming company plants a flag in the area of ​​e-commerce.

The in-store website offers Netflix a new way to raise cash after a quarter in which its explosive growth showed signs in the increasingly busy field of streaming entertainment, which now includes a formidable rival in Disney +.

Unlike some of its competitors, including Hulu and HBO Max, Netflix, home of “Bridgerton”, “The Witcher” and “The Crown”, has no ads, depending on the monthly fees paid by more than 200 million subscribers . the world. This is where Netflix.shop comes in.

The site is the next logical step for a company that has gotten serious about retail over the past year, an effort led by CEO Josh Simon, who manages Netflix’s consumer products division.

Mr. Simon joined the company in March 2020 after working in a similar role at Nike. On its watch, the consumer products team has grown to 60 people, from 20, and Netflix has negotiated with Walmart, Sephora, Amazon and Target to sell, among other things, clothing, toys, beauty suits and household goods related to the series and movies.

Netflix created the online store with tech company Shopify. Simon describes it as a ’boutique’, adding that products linked to only a few Netflix shows will be included in the first few weeks.

‘Lupine’, the sociable French crime show about an expert thief, will be featured on Netflix.shop later this month. In addition to baseball caps, T-shirts, hoodies and jerseys, the “Lupine”-related merchandise will include throw pillows ($ 60 each) and a side table ($ 150), all designed and manufactured in collaboration with the Louvre Museum.

Two Netflix anime series, “Eden” and “Yasuke,” hit the store on the first day. A watch based on the ‘Yasuke’ character Haruto, created in collaboration with artist and designer Nathalie Nguyen, costs $ 135.

There’s also a “Yasuke” clothing line created by a collaboration with streetwear label Hypland and its founder, Jordan Bentley. “He’s part of the drop culture, where kids line up in Fairfax Avenue in Los Angeles to buy his products,” he said. Simon said.

In the coming months, products linked to other Netflix shows, including ‘Stranger Things’ and ‘Money Heist’, will hit shelves online.

The question seems to be there: thousands of products produced by fans related to the Netflix documentary series ‘Tiger King’, including candles, face masks and greeting cards, are on sale on Etsy and similar sites, without the company’s blessing .

Netflix has made money from hits like ‘Bridgerton’, a period romance from producer Shonda Rhimes, which debuts in December. Netflix started selling Phenomenal with clothing company $ 59 sweatshirts inspired by the show. The line features a lavender hoodie with the words “I Wish to Be Entertained” on the front, as well as a crew collar with the message “I Burn for You.”

‘To All the Boys I’ve Loved Before’, a Netflix romantic comedy film franchise, has produced a clothing and accessories range at H&M, as well as beauty packs at Sephora. There are also Mattel dolls and a fluffy toy from Walmart linked to the Netflix animated hit “Over the Moon”.

Netflix.shop enables the company to move faster to meet the demand for articles related to Netflix, which is trending on social media. “We did it pretty quickly,” he said. Simon said about the ‘Bridgerton’ sweatshirts, ‘but I think we’re talking about a matter of days when we have our next unexpected hit. ‘

A desire for fast turnaround times played a role in the company’s decision to run its store through Shopify, the technology of which supports a variety of vendors, including Kim Kardashian’s Allbirds, Kith, The New York Times and Skims.

Harley Finkelstein, the company’s president, said Shopify is experienced in handling ‘big drops’, from Taylor Swift albums to sneaker releases, and he can manage tens of thousands of pay points per minute. “We’ve had a battle against the biggest flash sales on the planet,” he said.

Products based on entertainment hits go back to the early days of Hollywood. Disney has been selling plates, puzzles, tin cans, and other goods since the 1920s with Mickey Mouse, Pinocchio, Snow White, and other characters. Decades later, George Lucas earned a fortune thanks to a coincidental agreement he made with Fox, which left him the rights to Star Wars products in exchange for a discount on his director’s fee, an arrangement he made came out before the first film in the series.

Technical businesses are now starting to look for new revenue streams. Google recently announced plans to open a New York store, and Instagram has expanded its in-app shopping features.

According to the industry’s most recent study by Licensing International, a trading group, sales of licensed products linked to shows, movies and characters were approximately $ 49 billion in 2019 in the United States and $ 128 billion. The biggest player, in order of magnitude, is Disney.

Mr. Simon, CEO of Netflix, said that the money generated by the store website is not expected to match the amount Netflix makes through the transactions with retail chains and fashion brands. “Practically speaking, the revenue will come more from partners around the world in terms of bare footprint, number of locations and scope,” he said.

Unlike Disney, which sells an estimated $ 10 billion worth of goods annually, Netflix has no plans for brick-and-mortar stores in malls or Times Square.

Mark A. Cohen, director of retail studies and deputy professor at Columbia University’s Business School, said he was skeptical about the Netflix store’s longevity after the excitement surrounding the opening faded, in part because of the come-and-go cycle. of Netflix hits.

“Most of them have a short shelf life, unlike a Disney property, which is a generation long ride,” he said.

Nation World News Deskhttps://nationworldnews.com
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
Latest news
Related news
- Advertisement -

Leave a Reply