Netflix Expands Beyond Streaming into Merchandising and Live Experiences

Netflix (NFLX) is aggressively diversifying its revenue streams with a push into consumer products and immersive fan experiences. The streaming giant recently inked deals with toy manufacturers Jazwares, Hasbro, and Mattel to produce merchandise tied to its original content, including Stranger Things and the animated film KPop Demon Hunters.

Physical engagement takes center stage with the launch of Netflix House—a hybrid entertainment venue featuring live performances, themed dining, and interactive attractions. The first location opened in Philadelphia, with Dallas and Las Vegas slated for 2024 and 2027 respectively. These moves capitalize on Netflix's decade-long investment in original programming, which began yielding cultural phenomena like House of Cards and Stranger Things.

Analysts note the strategic timing of this expansion, as Netflix's IP portfolio now commands enough fan loyalty to sustain ancillary revenue channels. The company has already tested the waters with global Stranger Things pop-ups and Regency-era Bridgerton balls, demonstrating the monetization potential of its content universe beyond subscriptions.