Netflix completely upended the DVD rental market before revolutionizing streaming media consumption. Now, the company is reportedly considering a push into the video podcast space.
According to Gizmodo, Netflix is considering multiple avenues for video podcasts, including doing exclusive deals with larger creators and simply allowing ad-free viewing of certain video podcasts on its platform.
According to Business Insider, four insiders within Netflix said the company is warming to the idea of hosting video podcasts on the platform. The company itself declined to comment, but it was also reportedly in talks with Alex Cooper of Call Her Daddy late last year to host a "talk-based video show." Cooper ultimately ended up signing a $125 million deal with SiriusXM.
According to one agent BI spoke with, the thinking is essentially, "It's a way to get an amazing volume of content at a fraction of what they pay for scripted and unscripted budgets." This comes at a time when Netflix has also cut back significantly on what it spends for original content. At the beginning of 2024, the company cut nearly 100 shows from its lineup to scale back costs.
But the budget itself isn't the only consideration. Podcasts also produce a significant volume, with many shows being able to churn out several episodes per week, along with additional bonus content. This could be seen as a strategic move to keep more people interested in Netflix between releases of some of its flagship content like Stranger Things.
Podcasts also feature a familiar advertising structure, which could allow Netflix to keep this type of content in its ad-supported tier as well as offer it ad-free as an upgrade.
Podcasts continue to rise in popularity, even if the number of new podcasts overall has declined since its COVID-era peak. However, the video element of podcasts has truly taken form as a powerful piece of media in recent days. Given it doesn't take much more to film and edit a podcast, creating multiple avenues for the audience is attractive.
But before, Netflix reportedly had a hard time imagining people would want to sit down on watch a podcast. YouTube's data seemingly negates that concern, with the company reporting users watched more than 400 million hours of video podcasts on their televisions in 2024 alone. It makes sense that Netflix is starting to rethink whether or not video podcasts have a place on the platform.
But will this ultimately matter to creators without hundreds of thousands of download per episode? And will a focus on podcasting take away from already thinned budgets for award-winning originals?
It remains to be seen. There is, however, a world in which Netflix opens up a podcast distribution mechanism to more than just the top podcasts it tries to snag for exclusive deals.
Because after all, podcasts are much closer to music than they are films and television shows, at least in the way they're created and distributed. The "exclusivity" angle rarely works in music (which is probably why we largely haven't seen any album exclusives for major streaming platforms in years).
However, if Netflix opened up a YouTube-esque stream to video podcasts that allows more monetization opportunities for creators, it could be a big deal. So whether or not Netflix makes the move towards the fast-paced world of podcasts, how they do it, and if it includes more than just the top titles all remains to be seen.
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