Netflix has not had a new hit for a year and its hit rate is below that of premium cable and broadcast TV, CBS chief research officer David Poltrack told the UBS global media and communications conference yesterday.
“It has been more than one year since Netflix introduced a true new hit programme,” Poltrack said, adding that Netflix’s “batting average is below that of the pay cable networks as well as the broadcast networks” and that the streaming service ‘does not appear to have found any magic formula for success.”
Poltrack gave a wide-ranging analysis of the US TV landscape, which involved a look at the competitive landscape and performance of Netflix. He said that CBS has monitored the performance of Netflix programming via its own online panel.
It found that just under 10% of the US adult population have watched Netflix originals House of Cards and Orange is the New Black, in line, Poltrack said, with viewing figures for premium cable net HBO and its CBS-owned counterpart Showtime.
He added that Netflix subs tend to watch more episodes of a drama series, which could provide a compelling case for developing the secondary and SVOD market for broadcast and cable series, allowing viewers to access all episodes beyond the live transmission.