Netflix (NASDAQ:NFLX) has significantly impacted global entertainment by focusing on authentic storytelling that resonates with local audiences. The company’s strategy places emphasis on developing personalized content that reflects cultural specificity, a factor deemed essential by co-CEO Ted Sarandos. During a recent keynote at the Royal Television Society London Convention 2024, Sarandos highlighted how Netflix’s success hinges on its ability to tailor content to diverse audiences worldwide, demonstrating a dedicated shift from a global-first to a local-first approach.
What Is the Importance of Authentic Storytelling?
Authentic storytelling is crucial for Netflix, illustrated by the success of U.K.-produced series like “Supacell” and “Heartstopper.” These shows have garnered international acclaim due to their genuine representation of British culture. According to Sarandos, effective programming is achieved through local teams who understand and cater to their audience’s unique cultural tastes.
You have some of the very best writers, directors, producers, actors, crew, crafts, and locations anywhere in the world.
This approach underscores the belief that stories resonate more deeply when they are rooted in authenticity.
Why Does Localized Content Matter for Netflix?
Localized content has been a cornerstone of Netflix’s strategy, demonstrated by its $6 billion investment in the U.K. creative community since 2020. This commitment has resulted in over 100 active productions in the region. Sarandos shared his personal journey, which began in a local video store, emphasizing that understanding audience preferences is key to successful programming.
Everything starts local…when you try and make something for everyone, you typically end up making something that appeals to no one.
This sentiment drives Netflix’s decision to greenlight series and films based on local appeal.
In recent years, Netflix has consistently pursued localized content, a strategy that aligns with Sarandos’ beliefs articulated in his speech. The company has invested heavily in markets across the globe, from Mexico to Korea, tailoring its offerings to meet regional preferences. This focus on localized production contrasts with earlier practices of attempting to create universally appealing content, a shift that reflects a broader industry trend toward personalization.
Personalization is a shared priority across entertainment and retail sectors, as indicated by a PYMNTS Intelligence report. This similarity underscores the belief that tailored experiences enhance user engagement. Sarandos highlighted shows like “Baby Reindeer,” which succeeded globally due to their distinct British roots, capturing audiences from diverse regions.
We need to put the audience first — and that means embracing change.
His statement reflects an industry-wide understanding that personalization drives success.
Sarandos addressed questions regarding Netflix’s extensive library, asserting the necessity of variety to cater to eclectic tastes. He emphasized that a broad selection is crucial to satisfy diverse preferences.
People have such different and eclectic tastes that you can’t afford to program for just one sensibility.
This comprehensive approach is propelled by younger audiences, who value authentic personalization and diverse storytelling.
The enduring power of storytelling transcends technological advancements, as Sarandos noted. The essence of compelling narratives lies in character depth, plot strength, and actor chemistry. These elements create an unreplicable heart in stories, fostering optimism for the future.
If we can focus on the audience, embrace change and remain fearless in the stories that we’re telling, I know we’ll look back 20 years from now and say we really were only just getting started.
This outlook suggests that continued focus on audience-centric, authentic content will sustain Netflix’s influence in global entertainment.
