Netflix which has already implemented live programming including some major sports events on its streaming platform, may now be considering hosting video podcasts.
The company is believed to be “tapping podcasting talent to host a talk-based video show, after previously expressing skepticism that the format could work on the platform,” reported Business Insider.
Video podcasts are far cheaper to produce compared to some of its other shows such as Stranger Things, The Crown or Squid Game, each of which can cost millions of dollars to produce.
The main cost for podcasts is the talent and Netflix has reportedly already attempted to snap up the ‘Call Her Daddy’ star Alex Cooper, who eventually ended up signing with satellite radio provider SiriusXM.
But podcasters such as Joe Rogan and Theo Von have shown the immense popularity of their video podcasts hosted on YouTube, with some of their episodes amassing millions of views and often conducted with guests such as Donald Trump, Elon Musk and Mark Zuckerberg.
YouTube has said that users watched 400 million hours of podcasts on television sets in 2024.
YouTube’s CEO earlier this week called its service “the new TV,” a shift which has helped it win advertisers who previously spent their money on broadcast TV commercials.
Netflix will be keen to tap into those advertising dollars by hosting video podcasts on its platform.
A talent agent who spoke to Business Insider with the condition of anonymity said: “More recently, they are exploring: Is this doable? Which one would make sense for us? They ask about specific names.
“It’s a way to get an amazing volume of content at a fraction of what they pay for scripted and unscripted budgets.”
Netflix added 18.9 million customers in the fourth quarter of 2024, easily outdoing forecasts and bringing the total number of subscribers globally to more than 300 million.
Revenue grew 16% to US$10.2 billion (A$16.25 billion) for Q4 2024. It was the biggest jump since 2021.
Last May, Netflix increased its Australian prices by up to $3 per month. A standard plan with ads (1080p full HD) went from $6.99 to $7.99; standard without ads (1080p full HD) went from $16.99 to $18.99; and Premium (4K Ultra HD + HDR) from $22.99 per month to $25.99 per month.
