Netflix is a video streamer not particularly interested in cinema release of its original films, but embraces a theatrical-style approach to licensed merchandise.
For its biographical drama “Maestro,” Netflix offers a 288-page, photo-driven coffee-table book about the Making Of the streaming film about conductor Leonard Bernstein. The book “Maestro” provides a behind-the-scene look at staging and production such as costume design; and the introduction is written by Steven Spielberg, who produced the Netflix original film. The book’s publisher is Assouline, a Paris-based luxury brand focused on cultural products. Bradley Cooper stars, directs and co-wrote “Maestro.”
A physical paper-print version of the book is listed for sale for $50 at online booksellers. Netflix is clearly looking at the book as a promotional vehicle by offering digital access free online for a brief exclusive window; now the online and print book are both available.
Netflix embraces a cinema-like aura in some instances, while mostly eschews Hollywood customs in most others.
In examples of embracing a cinema ambiance, the Making Of book is a standard licensed merchandise offering spun off most prestige films. Besides impressing general consumers and generating revenue, the streamer can point to the “Maestro” coffee table book when wooing Hollywood talent, promising to produce equally impressive tomes to memorialize their artistry.
In April, Netflix pacted with La Costa to market limited-edition apparel with its signature crocodile logo based on the streamers TV shows, and a month later with JAKKS Pacific for toys based on an animated kids’ series. In 2022, retailing behemoth agreed to place some Netflix product boutiques in its stores.
Elsewhere, Netflix plans to open brick-and-mortar stores to selling consumer products and promote the streamer’s brand. A pilot outlet already operates dubbed Netflix House in Los Angeles’ tony the Grove retail complex.
The streamer clearly puts a high priority on developing a merchandise business, because it further embeds the Netflix brand in culture and replicates the feel of historically revered Hollywood movie studios. A robust merchandise business fosters brand loyalty and can open more avenues, such as video games, theme park and live stage shows adapted from film properties.
In another embrace of traditional cinema, Netflix bought Hollywood’s historic, century-old Egyptian movie theater in 2020 and reopened it in 2022 as a venue for splashy premieres, starting with its David Fincher-actioner original film “The Killer” last November.
“Netflix views the [merchandise] efforts mostly as a way to deepen fan engagement with its programming and to keep them hooked to the service,” said a Wall Street Journal article in October by Sarah Krouse. “Executives have learned that it is easier to keep subscribers when they are obsessed with characters and compelling franchises.”
Everyone’s model is Disney, with its interlocking theme parks; vacation resorts; TV outlets telecasting synergistic content; D23 in-person fan convention; and gobs of conventional licensed merchandise products like clothing, key-chains and drinking mugs.
But there are risks. Misjudging consumer interest results in unsold or discounted products that undercut consumer perceptions when excess products end up in discount bins. It also can be difficult to sign merchandise outfits, who have to commit a year or more in advance of premiere in order to create and market licensed-products and services.
“Orchestrating a successful merchandising campaign is an art,” says the third edition of “Marketing to Moviegoers,” the academic/business book. “Movie marketers want plenty of merchandise to generate royalty revenue and lots of signage at stores to support theatrical release.”
On its maverick side, Netflix eschews many cinema and major movie studio traditions with its original movies. This includes short or no theater runs, buying out talent’s residual bonus pay, and reveling in its status as something of a Hollywood outsider.
Netflix’s content chief Ted Sarandos said in an April earnings call that “driving folks to a theater is just not our business.” Though later there was some backtracking admitting Netflix “left some money on the table” with only truncated cinema releases, such as for “Glass Onion: A Knives Out Mystery” in late 2022.
As for the “Maestro” book, its description on Amazon says: “Delving behind the scenes, the accompanying book, introduced by Steven Spielberg, offers insights from Bradley Cooper on the creative journey from conception to realization. Contributors include Academy Award winners like Mark Bridges, Michelle Tesoro, Kazu Hiro, and Matthew Libatique, providing a comprehensive exploration of the filmmaking process.” Cooper’s pronounced prosthetic nose fanned a brief controversy from critics who asserted it was disrespectful and insulting, but died down when the real conductor’s family said it was not bothered.
Everyone in Hollywood pays attention to Netflix as the world’s largest video streamer with a staggering 247 million subscribers globally and generating $32 billion in 2022 revenue.
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