Netflix, the American over-the-top content platform and production company that has a global presence with hit shows like Lucifer, Crown, Money Heist, Peaky Blinders and many more launched its own e-commerce store called the Netflix Shop. This online store will be selling merchandise curated out of their own catalogue of movies and shows. Just like Disney, Netflix is also looking to diversify its portfolio by venturing into the e-commerce segment for added revenue.
Products being sold
Carefully crafted and of course, limited in edition, the store will first see a release of merchandise from the two very popular Netflix original series, Witcher and Stranger things. Netflix is also planning to launch their very own logo wear in collaboration with BEAMS, which is a Japanese fashion house. The company is also releasing merchandise based on the Anime series Yasuke and Eden. Limited edition apparel and decorative items from the famous French thriller series Lupin with a collaboration of Musee du Louvre will also be seen on the store for sale. The collectables launched, inspired by anime will be through three upcoming designers, Kristopher Kites, a noted jewellery maker, Jordan Bentley, a streetwear designer, and Nathalie Nguyen, a digital artist.
Licensing and Diversification
This move comes in accordance with Netflix’s licensing agreements with top companies such as Amazon, Walmart, H&M, Target, Sephora who already sell merchandised products related to Netflix’s shows. On the Netflix store, however, only limited edition items will be sold to fans as opposed to the other companies who sell its merchandised products. The company is trying to increase their mediums of revenue generation by diversifying its portfolio into a different segment altogether.
Netflix is not the only one that has ventured into this segment from before. Disney has held its position in place for much longer, with its consumer products generating a revenue of around USD 16.5 billion in the year 2020. Disney started off with licensing the image of Mickey Mouse for use on a children’s writing tablet post which the company decided to venture into the field.
The Netflix Shop E-commerce website has been curated and developed by Shopify. The store will first see a launch in the United States of America before the company focuses on plans which involve branching out to other countries. The move is also considered to be a response to the high saturation levels in consumer demand owing to the rise in competition in the OTT segment across borders.
