Netflix aims to become the leading platform

The boxing match between Jake Paul and Mike Tyson drew record crowds, but the event and broadcast were poor.

Netflix set a record Friday night. Nearly 60 million households watched Jake Paul vs. Mike Tyson live on the platform. Peak viewing on the platform showed nearly 65 million concurrent users watching the fight. The numbers are impressive, but there’s bad news.

Record after record. Netflix officials weren’t alone in bragging. Nearly 50 million households watched Amanda Serrano and Katie Taylor’s previous mega-fight. Netflix called that fight “probably the most watched professional women’s sport fight in US history.”

Trending on Twitter, millions in tickets. The fight’s anticipation was high: #PaulTyson was the top trending topic worldwide, while #Serrano was second in the US, Spain, Brazil, and Canada. The Arlington, Texas venue sold $18 million in tickets for the fight. It was the most profitable boxing and MMA fight outside of Las Vegas, doubling the previous record.

That’s not boxing. However, the fight received poor reviews. Tyson, 58 (almost 30 years older than Paul), fought until the end, throwing 97 punches, (18 of which hit his opponent). Many saw the fight as a pantomime, and NBA star Magic Johnson stopped watching. “Today’s fight hurt boxing,” he said. Former heavyweight champion and boxing legend Evander Hollyfield resigned, saying “it was not a good fight.”

Cuts during broadcast. Not only was the boxing show bad, but many users experienced cuts during the broadcast. The live broadcast uses “buffering” to download and broadcast the video in pieces and prepare the next one. This process failed and caused cuts and image quality issues.

“This is unwatchable .” Barstool Sports founder Dave Portnoy wrote on X that “#netflix was unprepared. The outages are unwatchable. Also trending on that platform were #Unwatchable and #NetflixCash. Reddit messages show that many agreed with this assessment.

Netflix struggles with live events. Large events have been broadcast by the platform for some time, but not properly. In April 2023, it launched this type of project with “Love is Blind” but had so many broadcast issues that it published it as another on-demand program the next day.

The first NetFlix.com DVD arrived in the mail on March 10, 1998. The movie was 1988’s “Beetlejuice,” directed by Tim Burton and starring a teenage Winona Ryder, who would later star in Netflix’s “Stranger Things.” Burton directed the first four episodes of “Wednesday,” which made Jenna Ortega famous, last year.

As Netflix has grown into a major player, those connections are just a few full-circle moments. A decade ago, the Silicon Valley company rushed into Hollywood to find groundbreaking, possibly expensive shows.

Ten years after “House of Cards” launched Netflix into its 2.0 phase, the company is becoming the leading incumbent streamer. It turned profitability despite many naysayers. In an increasingly competitive global market, the challenge is to maintain the crown.

Netflix is pursuing a number of long-term growth initiatives to attract new customers and encourage existing subscribers to use the platform regularly. The strategy has taken Netflix down new paths in the past 18 months, including introducing advertising after vowing for years to keep sponsor messages out and using technology to reduce password sharing. The streamer is also hosting live events like Chris Rock’s big return to stand-up and the SAG Awards starting next year. Netflix is also exploring licensing, merchandising, and paid IRL experiences like “Squid Game” and “Bridgerton.”

Michael Nathanson, senior analyst at MoffettNathanson Research, says Netflix is at a turning point. He sees two major issues that will drive company growth in the short term. Nathanson says, “It’s really about one thing: Can they re-accelerate revenue growth with the crackdown on password sharing and advertising.”

Netflix aims to become the leading platform

The boxing match between Jake Paul and Mike Tyson drew record crowds, but the event and broadcast were poor.

By nr39r

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