Netflix Made Zero Dollars From Popular ‘Wednesday’ Merchandise — Now It Wants to Fix That Mistake

Netflix is diversifying its revenue streams by venturing into merchandise sales tied to its new show based on the popular Japanese manga “One Piece.” While the streaming giant has previously sold merchandise for successful shows like Stranger Things, Sex Education, and The Witcher, it’s now breaking new ground by offering merchandise for One Piece even before the show’s success was proven.

This move is part of Netflix’s broader strategy to extract more value from its subscribers, which includes raising subscription prices, cracking down on password-sharing, and creating immersive experiences like Bridgerton-themed balls and Squid Game virtual reality events.

One Piece is a highly popular series that follows the adventures of a young pirate in search of the ultimate treasure, the “One Piece.” With over 516 million copies of the manga sold worldwide since its release in 1997 and a successful animated movie adaptation, the series has a dedicated fanbase.

Netflix’s live-action adaptation of One Piece debuted on August 31 and has already seen significant success. However, the company decided to produce merchandise well ahead of the show’s release, taking a gamble on its potential popularity.

Marian Lee, Netflix’s Chief Marketing Officer, stated that offering merchandise allows the platform to maintain a strong connection with fans who want to express their love for the characters.

Netflix’s move into merchandise and experiences between seasons reflects a strategy similar to Disney’s, which leverages theme parks and cruises to bring its content to life and generate revenue beyond box office earnings. This approach marks a shift for Netflix, which initially relied on licensing content from other studios and lacked the rights to sell show-inspired products.

Netflix’s commitment to expanding its offerings beyond streaming suggests a focus on maximizing revenue and engaging its audience in innovative ways, mirroring the strategies of competitors like Disney.