The streaming giant Netflix is actively exploring the launch of 24/7 live TV channels and streaming service bundles to address a recent trend of declining user engagement. This potential strategic shift signals the company is moving away from its long-standing core model of pure on-demand viewing.

User engagement, a critical metric measuring viewing time and content completion rates, has become a central topic in Netflix's internal meetings. Although the company's profits continue to grow and its user churn rate remains low for the industry, several data points are flashing warning signs. Data shows Netflix's share of U.S. TV viewing in April fell to 7.8%, its lowest level since May 2025. Over the past year, Netflix's stock price has declined by more than 40%.

Reports indicate that one option under consideration is the addition of live channels categorized by genre, allowing users to watch directly without browsing the content library, replicating the "lean-back" experience of traditional television. Another significant adjustment being explored is the integration of third-party streaming services, such as NBCUniversal's Peacock, into the Netflix app to sell external subscription bundles, similar to Amazon Prime Video and Apple TV+. These bundled offerings could be displayed as cards on the Netflix homepage.

These plans come at a time of consolidation in the media industry, with Fox's acquisition of Roku and the merger of Paramount and Warner Bros. Discovery in progress. Analysts note that if user engagement continues to slow, Netflix's core advantage could be eroded, prompting the company to explore new business models. Furthermore, Netflix is also studying a potential bid for the broadcast rights to the FIFA World Cup in 2030 and 2034 to further expand its content portfolio.