In all businesses, when you want to set up an empire, you need to branch out. All the big and relevant companies do so, and Netflix doesn’t want to miss out on this opportunity. Netflix is going offline, and this time, they aren’t just investing in temporary events but are committing to a long-term plan.
Netflix plans to open two large in-person experience venues, called Netflix House, in 2025 at King of Prussia Mall, Pennsylvania, and Galleria Dallas, Texas. Each venue, over 100,000 square feet, will feature immersive experiences, dining, and shopping based on popular shows like “Bridgerton” and “Stranger Things.”
Netflix aims to connect with fans and support its streaming service, not to create a major new business. While the concept builds on successful pop-up events, the high maintenance costs of these complexes raise questions about their long-term benefits, given Netflix’s global presence in 192 countries.
Now, here lies the question: how viable will this actually be?
To tell the truth, Netflix isn’t the first to go offline with their ventures. Disneyland and Warner Bros. World are already established. But there is a fundamental difference.
The ventures of Disney and Warner Bros. are driven by kids. Their whole idea of theme parks and shopping is usually accessed by kids, their parents, and families. Netflix, however, won’t be following this path. Their target audience is not primarily kids, which will definitely be a major downside to this plan.
Disney and Warner Bros. have extensive children’s content. Disney’s main pillars are kids and some adults who are emotionally attached to it. On the other hand, Warner Bros. has nearly every major children’s movie and musical that hits the market, including franchises like DC and Harry Potter, which target kids or people who grew up watching them.
But Netflix doesn’t share the same nostalgic connection with people. Though people binge-watch Netflix more than any other platform or studio, it has yet to hit the nostalgic chord with audiences. This might cause the failure of this plan.
Sometimes Netflix organizes offline events, which are successful because of their demand and scarcity. However, if they make it a daily thing and an easily accessible aspect of their services, it will likely lose its value.
Will this venture of Netflix fail?
Netflix, being the most profitable OTT platform and having a revenue greater than the profits of the box office, won’t be significantly harmed if they stick to this plan. Logically speaking, they should stick to it, as Netflix will be giving fans an alternative to already existing options.