Netflix launches online merchandise store
Why it matters: It is the company's first foray into commerce. Until now, the streaming giant made almost all of its money selling streaming video subscriptions.
Details: The new store features items like apparel, toys, games and immersive events tied to its shows.
- For example, the shop includes decorative items inspired by "Lupin," a French TV series on Netflix, as well as streetwear and action figures based on the anime series "Yasuke" and "Eden."
- The goods are created by a diverse group of up-and-coming designers, including Nathalie Nguyen, Kristopher Kites and Jordan Bentley.
- They are all limited-edition. Some will be available via retail partners, like Target. The Netflix.shop will first be available in the U.S. and expand into other countries in the coming months.
- At $25-$75, most price points are accessible to a wide array of consumers.
What they're saying: "We’re thrilled to give fans a new way to connect with their favorite stories, and to introduce them to the next wave of artists and designers who embrace the power of storytelling in all its forms," said Josh Simon VP of consumer products at Netflix, in a statement.
- Be smart: Simon joined Netflix from Nike last year, a signal that the streaming company was beginning to explore more consumer products outside of video subscriptions.
The big picture: Entertainment companies like Disney and NBCUniversal have long used their intellectual property and brands to sell merchandise as a source of revenue.
What's next: Netflix says it will debut new products from hit programs like "The Witcher" and "Stranger Things," as well as new Netflix logo-wear from Japanese fashion house BEAMS.