Netflix is set to launch an online store to sell limited-edition apparel, lifestyle merchandise and collectables based on popular shows like Stranger Things and Lupin, the streaming giant said in a blog post, reports Reuters.
- The store, Netflix.shop, was made available in the US starting Thursday and will expand to other countries in the coming months.
Between the lines: Netflix’s subscription rate fell short of projections in April, amidst a growing list of competitors offering their own streaming services, writes The Wall Street Journal.
- This store offers a new source of revenue and expands Netflix’s product line beyond what is sold in partner retail stores like Target and Walmart.
What they’re saying: Josh Simon, an executive who runs Netflix’s consumer products division, said the money generated by the shopping site is not expected to match the amount Netflix makes through its deals with store chains and fashion brands, per The New York Times.
- “Practically speaking, the revenue will come more from those partners around the world in terms of sheer footprint and number of locations and magnitude,” he said.
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