Streaming giant Netflix Inc (NASDAQ:NFLX) is adding a new live weekly talk show with comedian John Mulaney.
What Happened: According to Variety, citing Netflix chief content officer Bela Bajaria, the streaming platform is adding a live talk show with Mulaney starting in 2025.
The announcement underscores one of the company's main strategies, which is to grow live content in an effort to reach new subscribers.
Netflix currently has over 275 million paid subscribers.
Bajaria highlighted the company's working relationship with Mulaney, which included standup specials and the live talk-show series "Everybody's in LA."
Bajaria praised Mulaney's content as "bold and original and fresh and then unpredictable."
"And I think it'll be really fun to get to do a live show with him."
Read Also: Netflix To Become 'Default Choice' For TV, Movies? Analyst Predicts More Live Sports, Price Increases
Why It Matters: Netflix sees live content as a way to increase demand from advertisers. It might also serve as a catalyst to boost subscribers to ad-free plans.
And while viewership for "Everybody's in LA" wasn't huge, according to Bajaria. Netflix has launched other talk shows in the past that did not catch on with viewers.
"I think we have to continue to be bold and take risks and swings," Bajaria said. "And I think it would be too easy and too safe to go, 'oh, well, talk hasn't worked, so let's not try this thing.'"
Netflix's live content thus far has mostly been centered around comedy, such as the standup special featuring Chris Rock in March 2023.
Netflix is also pushing deeper into its sports content. The company will stream two National Football League games on Christmas Day 2024 and several in the future, and stream a live boxing match between Jake Paul and Mike Tyson on Nov. 15.
It also inked a $5 billion, 10-year deal with TKO Group Holdings Inc (NYSE:TKO) to start airing WWE's pro-wrestling content in 2025.
Reports also link Netflix to wanting to launch live versions of "Hot Ones." The popular video series from BuzzFeed features celebrities answering questions as they eat hot wings.
Price Action: Netflix stock trades at $730.75 on Thursday versus a 52-week trading range of $344.73 to $733.85. Netflix stock is up 56% year-to-date in 2024.
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