Streaming into the Future: Netflix's Engagement Strategy

The world has become glued to their screens, with people spending an astonishing 94 billion hours binge-watching their favorite shows on Netflix. This figure, announced by co-CEO Ted Sarandos, represents a 5% increase from the previous year. But what does this surge in engagement mean for the future of the streaming giant? As Netflix approaches its upcoming user engagement report, Sarandos believes that engagement is the key to the company's growth and success. With almost 280 million global subscribers, there's still room to grow, and Sarandos suggests that doubling that number would still be short of the household penetration of traditional pay television. But is Netflix's strategy to increase engagement by broadcasting more live events the right approach?Sarandos highlights past successes, such as the live comedy roast of Tom Brady, and upcoming NFL games that will stream on Christmas Day. However, some might argue that this move towards live programming and advertising is a step back towards traditional television. But Sarandos insists that Netflix still offers a better product, giving consumers choice, selection, variety, and control.