There are “Lupin” pillows and Netflix brand boxer shorts.
Caps, necklaces, charms and hoodies will all be on sale at Netflix.shop, a site that will be available on Thursday. On this site, the world’s largest streaming company flags the realm of e-commerce.
Shopping site gives Netflix A new way to bring in cash after the quarter when its explosive growth was shown Signs of slowdown An increasingly crowded area of streaming entertainment, it now includes Disney +’s formidable rivals.
Unlike some competitors such as Hulu and HBO Max, NetflixHome to Bridgerton, The Witcher, and The Crown, it has no commercials and relies on monthly fees paid by more than 200 million subscribers worldwide. That’s where Netflix.shop comes in.
The site is the next logical step for companies that took retail seriously last year, led by executive Josh Simon, who runs Netflix’s consumer products division.
Simon joined the company in March 2020 after playing a similar role at Nike. With his watch, the consumer product team has grown from 20 to 60, Netflix has dealt with Wal-Mart, Sephora, Amazon and Target, selling clothing, toys, cosmetology kits, household items and more related to the series. doing. the film.
Netflix has created an online store at technology company Shopify. Simon described it as a “boutique” and added that only a few Netflix shows would include products in the first few weeks.
“Lupin” A lively French crime show about expert thieves will be at the heart of Netflix.shop later this month. In addition to baseball caps, T-shirts, hoodies and sweaters, “Lupin” related The product includes cushions ($ 60 each) and side tables ($ 150), all designed and manufactured in collaboration with the Louvre Museum.
Two Netflix anime series, “Eden” and “Yasuke,” will be available from day one. A watch based on the “Yasuke” character, Hart, in collaboration with artist and designer Natalie Nguyen, costs $ 135.
There is also a Yasuke clothing line created in collaboration with streetwear label Hypland and its founder Jordan Bentley. “He’s part of that drop culture, and kids are lining up at Fairfax Avenue in Los Angeles to buy his products,” Simon said.
Within the next few months, products related to other Netflix shows, such as Stranger Things and Money Haste, will appear on online shelves.
Daily business briefing session
There seems to be demand. Thousands of fan-made products related to Netflix’s documentary series Tiger King, such as candles, face masks, and greeting cards, are sold on Etsy and similar sites without company blessings.
Netflix uses hits such as “Bridgerton,” the era romance of producer Shonda Rhimes, who debuted in December.Netflix is now available in collaboration with clothing company Phenomenal $ 59 sweatshirt Inspired by the show. This line includes a lavender hoodie with the words “I Wish to Be Entertained” on the front and a crew neck with the message “I Burn for You”.
Netflix’s romantic comedy movie series To All the Boys I Loved created a line of clothing and accessories at H & M and a beauty kit at Sephora. There are also Mattel dolls and Wal-Mart plush toys related to Netflix’s animated hit “Over the Moon”.
Netflix.shop enables companies to move faster to meet the demand for Netflix-related items that are showing that trend on social media. “We did that pretty quickly,” Simon said of the “Bridgerton” sweatshirt. “But I think the next unexpected hit will happen within a few days.”
The desire for quick delivery influenced the company’s decision to operate the store through Shopify. Technology support A range of vendors including Allbirds, Kith, The New York Times and Kim Kardashian’s Skims.
The company’s president, Harley Finkelstein, said Shopify has experience handling “major drops” from Taylor Swift’s albums to sneaker releases and can manage tens of thousands of checkouts per minute. “We have stepped up the fight around some of the biggest flash sales on the planet,” he said.
Products based on entertainment hits date back to the early days of Hollywood. Until the 1920s, Disney sold products such as plates featuring characters such as Mickey Mouse, Pinocchio, and Snow White, jigsaw puzzles, and tin buckets. Decades later, George Lucas made a fortune thanks to an accidental deal with Fox. This allowed him to retain rights to “Star Wars” products in exchange for a discount on the director’s fees. This is the deal I made before the first movie. The series is out.
Technology companies are now looking for new sources of revenue and are beginning to take action.Google recently announced plans to open a New York store, and Instagram surged Strengthen the in-app shopping function.
According to the latest industry research by industry group Licensing International, sales of licensed products related to shows, movies and characters were approximately $ 49 billion in the United States and $ 128 billion worldwide in 2019. The biggest player by an order of magnitude is Disney.
Netflix executive Simon said the money generated by shopping sites is not expected to match the amount Netflix earns through transactions with store chains and fashion brands. “In reality, we’ll be making more money from our partners around the world in terms of footprint size, number of locations, and size,” he said.
Unlike Disney, which is estimated to generate tens of billions of dollars in sales each year, Netflix has no plans to set up physical stores in malls or Times Square.
Mark A. Cohen, director of retail research and adjunct professor at Columbia University Business School, said he was skeptical of his longevity after the excitement for opening the Netflix store diminished. Netflix hits.
“Unlike Disney’s properties, which are long-generation vehicles, most of them have a short shelf life,” he said.
Selling products related to programs like “Lupin” on the Netflix online shop
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