What is the 'Netflix Effect' and Why is it Important?
Netflix has revolutionized the way that consumers consume media. Along with influencing how we watch shows, it has also paved the way for the Netflix Effect.
In years past, people anxious to watch their favorite TV shows and movies had to wait a week to watch the next episode or rewatch their favorite scenes. The advent of on-demand streaming platforms, like Netflix, ushered in the new age of media and escorted the more traditional cable-viewing out the door. Now, people can view any TV show or movie they wish, as many times as they want, and at any hour. The new convenience that Netflix brings to consumers has paved the way for binge-watching, where people spend hours each day engrossed in their favorite characters, themes, and even products. The staggering number of people that adopt this new way of media consumption keeps growing. Netflix added 25 million new subscriptions in the face of the coronavirus pandemic, and the number is projected to keep growing. The combination of obsession that people have with their favorite shows, the ease of access they have with them, and the perpetually increasing number of subscribers translate to an intriguing opportunity for your business by taking advantage of the “Netflix Effect.”
What is the Netflix Effect?
In this context, the “Netflix Effect” refers to an increased demand that consumers have for themes, products, or characters that consumers feel an affiliation towards. The most recent example is the uptick in demand for Chess sets amid the success of “Queen’s Gambit,” a show that follows the story of an orphan chess prodigy who wants to become the best player in the world. Inquiries for chess sets have gone up 250 percent while the original novel has become a New York Times Best Seller nearly four decades after its initial release.
Increased demand thanks to viewer’s affinity for their favorite shows does not stop at products. The popular show “Narcos” has been a catalyst for increased tourism to Colombia, where “narco tourists” take tours of depicted places from the show. Tourists flood Medellín, Cali, Bogota, and even Pablo Escobar’s private homes, searching for a deeper connection with the settings that captivated them for so long.
How Can My Business Use The Netflix Effect To Its Advantage?
Businesses should be keen to monitor which are the most popular shows on Netflix. The streaming platform offers statistics and lists that display which shows are most popular among viewers. If your business correlates to any of the main themes or settings of the show, you are in a prime position to take advantage of the Netflix Effect. Implementing SEO, PPC, social media marketing, and other digital marketing strategies can help your business use the Netflix Effect to its advantage.
Tandem is a digital marketing agency in Fort Lauderdale that has experience serving clients with our digital marketing strategies. Our digital marketing specialists can formulate a digital marketing strategy that is proven to generate leads, conversions, and increase revenue. Contact our Fort Lauderdale SEO and digital marketing agency today to learn more.