Rumors surrounding Netflix's streaming strategy have been swirling for months. With subscriptions down for the year and the addition of an ad-supported subscription tier, almost any change, once thought impossible for the streaming giant, now seems not just possible but inevitable. However, Netflix was quick to shut down one particular rumor in their Q3 shareholder letter. It seems that Netflix will not be abandoning its binge-release method after all, despite rumors to the contrary.
Netflix has dominated the world of streaming for over ten years. The service gained most of its popularity through its library of classic movies and television shows and its many original projects. The streaming service is known to have popularized the binge-release method for its original series. And for many years, Netflix has dominated the streaming game with that method. Series such as House of Cards and Stranger Things managed to build dedicated audiences in a relatively brief period of time due to their single release date per season.
However, many other streaming services, most of which have cropped up as stiff competition for Netflix, have opted for weekly or periodic release structures. Hulu's The Handmaid's Tale, has thrived on a periodic release structure, recreating the tension between episodes that allows for an extended viewing experience. Disney+ has also opted for a weekly release format for many of its series with ample success.
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Earlier this year, Netflix did go against their single release strategy for perhaps its biggest property, Stranger Things. The fourth season of the series was released in two parts over the summer. And it seems that this strategy was successful given the absolute ubiquity of Hellfire Club t-shirts. There's no doubt that everyone will see at least one Eddie Munson out on Halloween night.
However, it looks like Netflix is sticking to its binge method of release after all. "We think our bingeable release model helps drive substantial engagement, especially for newer titles,” Netflix said in its Q3 quarterly shareholder letter. The statement continued, “[t]his enables viewers to lose themselves in stories they love.”
The statement defended the effectiveness of their binge release method by bringing up some iconic titles, saying, “[i]t’s hard to imagine, for example, how a Korean title like ‘Squid Game’ would have become a mega hit globally without the momentum that came from people being able to binge it.” The statement continued, "[w]e believe the ability for our members to immerse themselves in a story from start to finish increases their enjoyment but also their likelihood to tell their friends, which then means more people watch, join and stay with Netflix.”
However, despite Netflix's promise to continue binge releases, one can only wonder how long this promise will hold, and if it is even a sustainable choice given how cutthroat the world of streaming has become.
Check out the trailer for Netflix's recent hit series, The Watcher, below: