Netflix Opens an Online Shop, Taking a Page from Disney
Sam primarily covers entertainment and media for dot.LA. Previously he was Marjorie Deane Fellow at The Economist, where he wrote for the business and finance sections of the print edition. He has also worked at the XPRIZE Foundation, U.S. Government Accountability Office, KCRW, and MLB Advanced Media (now Disney Streaming Services). He holds an MBA from UCLA Anderson, an MPP from UCLA Luskin and a BA in History from University of Michigan. Email him at samblake@dot.LA and find him on Twitter @hisamblake
Move over, "Netflix and chill," and make way for "Netflix and shop."
Taking a page from Disney, the video streamer debuted an online store for selling merchandise tied to its shows and brand on Thursday. Collectibles and streetwear from anime series "Yasuke" and "Eden" are now available, soon to be followed by apparel and decorative items from the French hit, "Lupin," designed in collaboration with the Louvre Museum.
Netflix's category expansion upon its intellectual property is a page from the playbooks of Disney and NBCUniversal, both of whom have long sold merchandise to squeeze revenue from the characters, stories and brands they bring to life on screen.
The online shop is Netflix's first direct foray into commerce. It comes on the heels of the company's forecast that 2021 will be the first year it can pay for its own projects without needing to raise external financing. First available in the U.S., the store will roll out to other countries in the coming months, according to a company statement.
Products are all limited-edition, with a current price range of $30 to $135. Upcoming lines will include merchandise tied to "Stranger Things" and "The Witcher."
The site sports a distinctive Netflix style and highlights the company's merchandise partnerships with three of what it calls "up-and-coming designers": Jordan Bentley, Nathalie Nguyen, and Kristopher Kites.
"We love it when great stories transcend screens and become part of people's lives," Netflix VP of Consumer Products Josh Simon wrote in a blog post. "We're always looking at how we can extend the world of our stories for fans, from apparel and toys to immersive events and games. And it's why today we're launching Netflix.shop as an exciting new destination combining curated products and rich storytelling in a uniquely Netflix shopping experience."
Simon left a similar role at Nike for Netflix in early 2020.
Despite its healthy lead in the streaming wars, Netflix is showing signs of waning growth. Numerous outlets have reported the company also harbors ambitions to expand into gaming.
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Sam primarily covers entertainment and media for dot.LA. Previously he was Marjorie Deane Fellow at The Economist, where he wrote for the business and finance sections of the print edition. He has also worked at the XPRIZE Foundation, U.S. Government Accountability Office, KCRW, and MLB Advanced Media (now Disney Streaming Services). He holds an MBA from UCLA Anderson, an MPP from UCLA Luskin and a BA in History from University of Michigan. Email him at samblake@dot.LA and find him on Twitter @hisamblake
