Netflix has recently been busy spending money and in 2017 will spend over $5 billion just on new original content. That does not even count its deals with networks such as Disney for access to its content.
So how does Netflix plan to make money as it is spending it left and right? The same way George Lucas does—by selling merchandise.
This week Netflix posted a new job announcement looking for a director of licensing, merchandising, and promotion.
Netflix lists the responsibilities of the new job as the following:
- Own licensing of our content across the category landscape (eg. books, comics, gaming toys, collectibles, soundtrack and apparel) including ownership of relationship with retailers and suppliers across geographies.
- Be an internal and external champion of the opportunity, vision, pitch and message with regards to our licensing strategy.
- Identify upstream requirements (legal, financial, business planning, approvals) and downstream creative approach for merchandise development that is relevant, topical and sparks member desire.
- Take a “creative friendly” approach to licensing and ensure appropriate internal stakeholders are involved in key decision-making.
- Develop go-to-market plans (consumer, trade and retail marketing) with retail partners that leads to strong demand for our licensed products.
- Develop and implement a category strategy for growth through mass retail (both e-commerce and physical retail).
Disney makes a lot on its merchandising and it recently broke sale records with sales of Frozen and Star Wars merchandising totaling $1.48 billion in the fourth quarter of 2016. Now Netflix wants a piece of these sales.
So when will we see a flood of new Netflix merchandise? We don’t know because Netflix has not even hired a director yet but before you know it local stores will be flooded with items from Netflix shows.
So what kind of Netflix merchandise would you like to see? Leave us a comment with your must have Netflix gear.
Source: The Street
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