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May 15 news that Netflix may enter the live broadcast space, according to Deadline, Netflix is currently developing a live broadcast function for stand-up comedy specials and other content.
Support for live streaming could offer Netflix the possibility of broadcasting live reunions, such as a recent reunion hosted by the real estate reality show Sales Sunset and the launch of live voting for contest shows.
Netflix can also take advantage of this feature to stream live comedy specials. This year, Netflix hosted its first-ever offline comedy festival called Netflix Is a Joke Fest. The Los Angeles-based event lasted for several days and featured more than 130 popular comedians. Netflix will start streaming some of the shows it recorded at the event later this month and in June, but the live streaming feature lets users watch the comedy festival in real time from home.
One of Netflix's biggest competitors, Disney Plus, has dabbled in live streaming, and in February this year, Disney Plus aired a live broadcast of the Oscars, which is the first time for Disney Plus, and the star dance competition series "Dance with the Stars" will also debut as a live show on the platform later this year.
In Netflix's most recent earnings report, the streaming service experienced its first user churn in more than a decade, while Disney Plus added 7.9 million new subscribers in the first quarter of 2022. In response to the decline in revenue and users, Netflix hinted that it might crack down on password sharing, as well as launching a low-cost subscription model with ads