“Globally, that’s been very successful,” said Simon. “The rich creative, nostalgia-driven world of that show has given us such a strong creative hook.”
Netflix has opened more than 50 live experiences in 100 different cities over the last 12 months, including The Queen’s Ball Bridgerton and Stranger Things: The First Shadow, an Olivier-award-winning play in London’s West End.
Squid Game: The Experience, co-created by Superfly, also opened in New York City in October. It consisted of five challenges inspired by the show, with tickets for the experience starting at $29.
“We really obsess over the details of the set design, the stories, the characters,” Simon said. “People get so passionate about their favorite movies and TV shows that we don’t want to let them down when they walk in the door.”
Combined, Netflix’s 2024 immersive experiences have welcomed 7.5 million fans.
Chelito Rubio, strategy director at Saffron Brand Consultants, said that as Netflix’s subscriber base starts to plateau, these events make sense from a growth perspective. She likens the strategy to Airbnb’s pivot from accommodation to travel-based experiences.
“Watching a series is inherently passive, but by creating these experiences it allows Netflix to transform from a content platform into a social platform,” she said, noting that challenges could arise if fan expectations aren’t met.
“The backlash would be brutal,” she added. “If Netflix isn’t careful, it could dilute the brand and the expectations of the magic it will bring. Disney succeeds because it pours everything into creating magical experiences. Netflix should be prepared to do the same if it wants this to be a real success. You can’t half-ass the magic.”