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His announcement comes a day after his teleconference with PM Modi on Friday. During their talk, they discussed the enormous potential for association in various areas including technology, innovation, space, and mobility.
Netflix is reportedly gearing up to launch a series of retail destinations, dubbed "Netflix House," in 2025...
Digital Desk: In a strategic move to bring its popular content beyond the screens and into the real world, Netflix is reportedly gearing up to launch a series of retail destinations, dubbed "Netflix House," in 2025. These physical spaces will not only offer a wide range of merchandise but also provide immersive experiences and activities that mirror the latest trends on the streaming platform.
According to a recent report by Bloomberg, Netflix is looking to capitalize on the immense popularity of its original content by creating themed retail destinations. These spaces will not only feature products for sale but also offer experiences inspired by trending shows and movies. Josh Simon, VP of Netflix Consumer Products, expressed the company's vision, stating, "We've seen how much fans love to immerse themselves in the world of our movies and TV shows, and we've been thinking a lot about how we take that to the next level."
Netflix has already ventured into the realm of immersive entertainment with events like the Stranger Things prequel stage show in London and Squid Game: The Trials in Los Angeles. In addition to these live experiences, the streaming giant previously launched Netflix Bites in Los Angeles, a pop-up eatery serving dishes based on its original shows. However, the restaurant has since closed its doors.
The move to establish Netflix House follows the company's decision to discontinue its DVD rental service after 25 years due to dwindling demand for physical media.
In related news, Netflix is also considering raising prices for its ad-free subscription service once the ongoing Hollywood actors' strike concludes. The Wall Street Journal reports that Netflix is contemplating price hikes in multiple markets globally, with the United States and Canada potentially being the first regions to witness these changes. It remains uncertain whether the price increase will be applicable to Netflix users in India.
This potential price adjustment aligns with a broader industry trend, as major ad-free streaming services have already increased their subscription costs by around 25% in efforts to achieve profitability while retaining price-sensitive subscribers.
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