"Secure the Viewers": Netflix Considers Live TV and OTT Bundling Amid Falling Market Share

Seeking New Growth Amid Declining Engagement

Expanding Live Sports Broadcasts Beyond VOD-Focused Strategy

Netflix is reportedly considering introducing a live TV channel on its home screen and adopting a bundled service model that allows users to subscribe to and pay for competing online video service (OTT) platforms together. This move is seen as an effort to find new growth drivers amid intensifying competition and declining market share.

The Wall Street Journal (WSJ) recently reported, citing multiple sources, that Netflix is discussing the sale of live TV channels and external OTT services as a package. The approach borrows the "app within an app" model already offered by Amazon Prime and Apple TV, with one option under consideration being a bundle that includes NBCUniversal's Peacock for an additional fee. In this structure, consumers can complete both payment and viewing within Netflix without switching between apps, maximizing the "lock-in effect." Live TV channels that broadcast specific programs or genres 24 hours a day are also being discussed as a way to increase customer engagement time.

Netflix, which had previously maintained a closed ecosystem focused on original content, appears to be shifting toward a comprehensive streaming hub in response to its declining market share. According to WSJ, Netflix executives have recently expressed concern about signs of slowing subscriber engagement. This metric measures how long users watch content and how often they finish watching it. The higher the engagement, the less likely subscribers are to cancel their subscriptions.

Bloomberg reported that viewership for Netflix's original series "Angry People" Season 2 dropped by 70% compared to the previous season, while "The Night Agent" and "Avatar" each lost over 50% of their viewers when launching their respective second and third seasons. Netflix's share of U.S. TV viewership, according to Nielsen data, also fell from 9.0% in December 2025 to 7.8% in April 2026.

Originally, Netflix produced original content or purchased external content and streamed it on demand (VOD). However, as the OTT market matured, the company introduced ad-supported plans and sought new revenue sources through real-time live content. With VOD, it is difficult to display ads if consumers do not select the corresponding plan, and viewers can also skip ads. In the case of live content, a prime example was the comeback performance of BTS held at Gwanghwamun Square in Seoul in March 2026.

Netflix is also working to expand its sports content. The company is reportedly reconsidering its previous policy of not participating in high-priced sports broadcasting rights and is now in discussions to bid for the broadcasting rights to the FIFA World Cup in 2030 and 2034. Netflix has already secured the broadcasting rights for the Women's World Cup in 2027 and 2031.

This content was produced with the assistance of AI translation services.