Big Ted Sarandos (Netflix co-CEO) wants you glued to your screen, obsessed with its next big hit, and terrified to cancel your subscription for fear of missing out on the cultural conversation. At this week’s UBS Global Media and Communications Conference, Sarandos doubled down on Netflix’s mission to create a global FOMO factory, a strategy he insists will keep fans, subscribers, and advertisers lining up.
And sure, FOMO is a cute soundbite. But this is not a groundbreaking strategy.
The Basics
Let’s break it down. Every streaming service—Netflix, Disney+, Amazon Prime Video, you name it—needs to pass the same two-question test every single month:
- As a viewer, did I get value this month? Is it worth my $15 subscription fee or, for ad-supported services, worth my time, attention, and sanity to endure another ad for cat food?
- If I cancel, will I miss out on next month? Are the shows or movies on this platform so good that I’d feel like I’m living under a rock without them?
If the answer to these questions isn’t an emphatic “yes,” then the platform has failed. Period. Netflix’s plan to master FOMO isn’t revolutionary—it’s the bare minimum to stay in this increasingly cutthroat game.
Sarandos’ Strategy: Bigger, Flashier, Everywhere
Netflix is playing the FOMO game better than anyone right now. Sarandos unveiled what can only be described as a flex at UBS:
- A packed content slate for 2024 and beyond, headlined by megahits like Stranger Things, Squid Game, and Wednesday.
- Big-budget original films (Knives Out 3, Guillermo del Toro’s Frankenstein).
- Live events, including a weekly WWE Raw broadcast, because Netflix can and should want a piece of everything from prestige TV to body slams.
And let’s not forget Netflix’s obsession with global domination—South Korean juggernauts like Squid Game don’t just generate views; they create worldwide moments. Meanwhile, Broadway-bound Stranger Things spin-offs and T-shirt sales ensure the fandom runs deep long after the credits roll.
Meanwhile, Rivals Are Playing Catch-Up
Sarandos didn’t hold back when addressing the competition. Disney and Warner Discovery? They’re slashing budgets and bundling services desperately trying to keep subscribers from fleeing. Amazon and Apple? Big wallets, smaller cultural footprint. And for Apple, who loves live sports, but still figuring out if they wanna put a ring on it.
On the other hand, Netflix is flush with cash, with over 282 million global subscribers, but it still claims less than 10% of total TV viewing time in its most mature markets. Sarandos sees that as proof that Netflix still has “a ton of runway to grow.”
The Take
Netflix’s success hinges on something that should already be every streaming exec’s North Star: value and indispensability. If a platform doesn’t make subscribers feel like they need it every single month, what is it even doing?
Yes, Netflix’s playbook is impressive. But let’s not confuse good execution with a novel strategy. FOMO isn’t a clever marketing term—it’s the cost of entry in streaming. You’re not in the game if you’re not delivering on that.
