Netflix reportedly is looking to launch a current event news program similar to “60 Minutes” on CBS and ABC’s “20/20.”
According to a new report from MarketWatch, the program would cover both sides of the political aisle and feature field reports – the latter a dying feature among broadcast news organizations facing dwindling ratings and operating costs.
“Netflix [has] spotted a hole in the market for a current affairs TV show encompassing both sides of the political divide and are seeking to fill it,” a TV executive, who previously worked with Netflix on a documentary series, told MarketWatch.
Netflix is reportedly “proceeding with caution,” the source says, because the streaming giant knows news talk shows can be expensive and yet underperform financially. It’s apparently looking for ways to make it economically viable without having to compromise its production and the integrity of its news gathering operation.
The streaming giant has invested upwards of $8 billion USD in content to lure viewers from tech and legacy television rivals, but has steered clear of original news so far — with the exception of mostly licensed documentaries.
Technology platforms like Netflix or Apple have traditionally stayed away from news shows, because it can be difficult to compete with the journalistic quality and ethos of networks that are experts in news-gathering and have the infrastructures to support investigative work with a quick turnaround.
Netflix may be wading into more serious entertainment content, as we recently reported that it is in talks with former President Barack Obama about creating a documentary series highlighting uplifting American stories.
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