Streaming giant Netflix is expanding its podcasting footprint

Netflix is diving further into the podcast room in a bid to retain audiences invested in its exhibits and flicks.

The Los Gatos-primarily based streaming huge is growing its podcasts, getting pitches from outdoors producers and is hunting to retain the services of an government to direct its audio thrust, according to people acquainted with the strategies who ended up not licensed to comment publicly.

“Podcasts are an excellent way for fans to join with our tales and talent, and our promoting group programs to make additional of them,” Jonathan Bing, spokesman for Netflix, stated in a statement.

Bing declined to elaborate on the company’s options and kinds of podcasts it would make.

Netflix faces a great deal of opposition. Apple last thirty day period launched a new podcast subscription system, even though Amazon lately snapped up West Hollywood podcast publisher Wondery, maker of the preferred “Dr. Death.” In the previous few of many years, Sweden’s Spotify has been fast expanding, obtaining a collection of podcast networks and producers, including Gimlet Media and Parcast.

Despite the fact that Netflix executives have stressed that they are not keen to diversify further than their main small business of streaming, some podcast producers are hoping the corporation could even now arise as a even larger economical backer for audio creatives.

“It’s interesting to see more buyers of original written content in the audio space,” reported Marissa Hurwitz, an agent in WME’s digital department, referring to Netflix. Hurwitz signifies a lot of podcast producers.

The audio push builds on Netflix’s present library of about 30 podcasts, which are primarily tied to the promotion of well-known Television displays and motion pictures these as “The Crown” and “The Irishman.” The streamer even has a podcast for its positions web page, called “We Are Netflix,” that features staff accounts about daily life at the organization.

The most well-known podcasts so much are spinoffs these types of as “You Just cannot Make This Up,” which digs into the true stories powering Netflix’s genuine criminal offense movies and series and “Okay, Now Listen,” a biweekly podcast underneath the company’s Solid Black Lead brand hosted by Scottie Beam and Sylvia Obell. The exhibit addresses a large array of subject areas, from colorism to entire body image.

So much, Netflix has made use of mainly exterior producers to make its podcasts, and it getting pitches for new clearly show strategies, many men and women acquainted with the make a difference said.

The investment decision in audio can fork out dividends. Podcasts can be an helpful way to construct marketing and advertising buzz for shows. About 80 million Americans pay attention to podcasts weekly, up 17% from past yr, in accordance to a study by Edison Investigation and Triton Electronic.

Netflix’s rivals have very similar efforts all over advertising podcasts. Earlier this yr, Apple Television+ introduced a companion podcast for its series “For All Mankind” that includes discussions with folks who get the job done on the show. In 2019, TNT and podcast studio Cadence13 launched “Root of Evil: The Genuine Story of the Hodel Household and the Black Dahlia,” a companion to the Television set sequence “I Am the Night.”

Podcasts have come to be a popular way for creators to inexpensively check out strategies, creating new intellectual property that can later on be designed into Tv exhibits or videos. Such audio courses include things like the Gimlet Media thriller “Homecoming,” that later became a collection on Amazon Key Video starring Julia Roberts and the L.A. Occasions accurate criminal offense podcast “Dirty John,” which was built into a demonstrate on Bravo.

“A significant priority for several buyers, together with Netflix, is incubating IP,” Hurwitz said.

Netflix hasn’t diversified its business enterprise places further than its core streaming platform, though it has dabbled in products, shopper products and publishing, according to Bloomberg.

The business also has been turning its strike reveals like “Stranger Things” into video clip game titles. Like podcasts, these endeavours have mainly been a marketing and advertising effort and hard work to push interest to shows and movies, but they elevate the likely for upcoming profits streams.

For now, podcasts sit firmly in just Netflix’s advertising and marketing division. Netflix has been advertising and marketing for a head of audio and podcasts given that at the very least March, somebody who can condition “the eyesight and implementation for Netflix’s growth in the podcast place,” in accordance to a putting up on line.

The human being would direct and condition Netflix’s podcast approach and negotiate and manage contracts with outside partners and agencies as properly as deal with a departmental budget and a little group of inside podcast producers and gurus, according to the put up.

So much, Netflix podcasts are readily available by means of Apple and Spotify, among other platforms. However, Netflix has been tests an audio-only purpose, according to stories, and has been surveying the development of a new on the internet room in which it would share podcasts and other added written content, in accordance to technological innovation report Protocol. Netflix has declined to remark on these stories.