Report: Netflix to open retail stores — with restaurants
Netflix may have found its next revenue stream: permanent stores.
The streaming giant plans to open physical stores — dubbed Netflix House — with the first two locations expected to debut in the U.S. in 2025, followed by global expansion, reported Bloomberg.
The stores will sell merchandise based on some of Netflix’s most popular shows and also offer curated in-store dining and live events. The restaurant will serve up items from the streaming platform’s food-based reality shows, with a wide range of options from fast casual to high-end dining, the report said.
“We’ve seen how much fans love to immerse themselves in the world of our movies and TV shows, and we’ve been thinking a lot about how we take that to the next level," Josh Simon, Netflix’s VP of consumer products, told Bloomberg.
Netflix House would not be Netflix’s first entry into retail — or dining. In 2021, the company launched an online merchandise store that sells merchandse related to its shows. And in 2022, Netflix announced it was opening in-store Netflex hubs in more than 2,400 Walmart stores nationwide. The shop sells items tied to popular Nexflix programs and movies and gift cards.
In addition, over the years the company has launched some 40 pop-up experiences across 20 cities, Bloomberg noted. For holiday 2022, Netflix opened a pop-up at The Grove in Los Angeles. The 10,000-sq.-ft. store, open from October to early January, sold limited-edition merchandise based on popular Netflix shows. It also featured photo-ready vignettes featuring life-size versions of notable Netflix characters.
More recently, in July, Netflix opened its first-ever pop-up restaurant, in the La Brea neighborhood of Los Angeles. Called Netflix Bites, the temporary venue offered “an elevated dining experience” from several well-known chefs from shows on its platform, including Chef’s Table and Iron Chef: Quest for an Iron Legend.
“Netflix is already a destination for beloved food programming, from documentaries to competition shows," said Josh Simon, VP, consumer products, Netflix, in a June press release. "From episode to entrée, with Netflix Bites we are creating an in-person experience where fans can immerse themselves in their favorite food shows. We are excited to collaborate with these incredible chefs who will bring this vision to life and showcase an array of their delicious menus."