Netflix Has a Target: Young Adults
Will the streaming service become what CW is for cable?
New successes such as Wednesday, Ginny & Georgia, Outer Banks, Shadow and Bone, Heartstopper, Never Have I Ever, and The Kissing Booth trilogy, classics such as Stranger Things, projects in development such as XO, Kitty, the manga-based pirate adventure One Piece, True Spirit, and Damsel, starring Stranger Things star Millie Bobby Brown. Netflix decided to invest in and promote programming about young adults and teens, as it fights to remain dominant in the fiercely competitive streaming business, writes The Los Angeles Times. “Bulking up in the so-called YA (young adult) category comes at a time when streamers are under pressure to become more profitable, increase their subscriber base and reduce churn,” write Wendy Lee and Brian Contreras.
Netflix’s young adult strategy has risks and challenges. Younger consumers have limited budgets and are tech-savvy enough to drop a service quickly. Still, they have long been desirable to advertisers, essential as Netflix grows its cheaper tier that includes commercials. “Gaining customers’ loyalty during early adulthood could be invaluable in the long run,” said a former studio and TV network executive Tom Nunan. “The greater goal, of course, is just to keep those eyeballs train[ed] onto Netflix as those people watching Netflix go from being young adults or teenagers into adulthood.”
Netflix plans to spend around $17 billion on content this year but declined to say how much it will be spent on young-adult programming.
Rival streaming services also have gone after young-adult audiences. HBO Max rebooted Gossip Girl and aired The Sex Lives of College Girls, while HBO has won Emmys for the controversial Euphoria. Other such series include Amazon’s The Summer I Turned Pretty and Disney’s Love, Victor.
Source: Los Angeles Times
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Will the streaming service become what CW is for cable?
New successes such as Wednesday, Ginny & Georgia, Outer Banks, Shadow and Bone, Heartstopper, Never Have I Ever, and The Kissing Booth trilogy, classics such as Stranger Things, projects in development such as XO, Kitty, the manga-based pirate adventure One Piece, True Spirit, and Damsel, starring Stranger Things star Millie Bobby Brown. Netflix decided to invest in and promote programming about young adults and teens, as it fights to remain dominant in the fiercely competitive streaming business, writes The Los Angeles Times. “Bulking up in the so-called YA (young adult) category comes at a time when streamers are under pressure to become more profitable, increase their subscriber base and reduce churn,” write Wendy Lee and Brian Contreras.
Netflix’s young adult strategy has risks and challenges. Younger consumers have limited budgets and are tech-savvy enough to drop a service quickly. Still, they have long been desirable to advertisers, essential as Netflix grows its cheaper tier that includes commercials. “Gaining customers’ loyalty during early adulthood could be invaluable in the long run,” said a former studio and TV network executive Tom Nunan. “The greater goal, of course, is just to keep those eyeballs train[ed] onto Netflix as those people watching Netflix go from being young adults or teenagers into adulthood.”
Netflix plans to spend around $17 billion on content this year but declined to say how much it will be spent on young-adult programming.
Rival streaming services also have gone after young-adult audiences. HBO Max rebooted Gossip Girl and aired The Sex Lives of College Girls, while HBO has won Emmys for the controversial Euphoria. Other such series include Amazon’s The Summer I Turned Pretty and Disney’s Love, Victor.
Source: Los Angeles Times
Share:
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