Netflix is expanding into video podcasts as part of its strategy to compete with YouTube's growing dominance in this space, according to multiple industry insiders who spoke with Business Insider.

The streaming giant previously attempted to court Alex Cooper's "Call Me Daddy" podcast before Cooper ultimately signed with SiriusXM for over $125 million. Netflix executives are now actively seeking other content creators to bring video podcasts to their platform.

Video podcasts offer several strategic advantages for Netflix:

• Lower production costs compared to traditional TV shows
• Rapid content production capabilities
• Regular release schedules (weekly or bi-weekly)
• Higher viewer retention due to consistent publishing
• Strong appeal to Gen Z (89% report watching/listening to podcasts in 2024)

Netflix has already shown success with talk show formats, as evidenced by John Mulaney's six-week show 'John Mulaney: Presents Everybody's in LA,' which led to a 12-week extension titled 'Everybody's Live with John Mulaney.'

The company is exploring two potential approaches for video podcast content:

1. Licensing existing podcasts without exclusivity
2. Creating in-house content through dedicated podcast studios

For exclusive content, Netflix may negotiate 12-month platform exclusivity periods, offering benefits like ad-free listening to attract both creators and viewers.

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