For Every Hit TV Show, There Are More Than 100 Misses

Using Hollywood’s new metrics, less than 5% of streaming originals count as hit shows.

Ted Sarandos, president and co-chief executive office of Netflix Inc., during the Bloomberg Screentime event in Los Angeles, California, US, on Thursday, Oct. 12, 2023. The event gathers moguls, celebrities, and entrepreneurs to discuss the future of cinema, the boom in streaming audio and video, the latest sports and gaming experiences, and the potential impact of artificial intelligence.Photographer: Kyle Grillot/Bloomberg

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By Lucas Shaw

November 6, 2023 at 12:15 AM UTC

Let’s kick things off with a fun data point. Netflix is charging $2 million to sponsor its first live sports event, the Netflix Cup. It’s really more of a celebrity golf show than a tournament, but it’s an experiment in live programming, and it is sports adjacent.

There won’t be commercials during the event, but companies can pay to have their names plastered around the course. They must also commit to spending $2 million on the streaming giant’s advertising-supported tier.