StreamFest will first be tested in India, before potentially being rolled out to other countries.
The idea of StreamFest is that everyone in a country would have unlimited access to Netflix for two days. Interestingly, you won't need to transmit payment details.
This news doesn't come any longer after Netflix quietly ended its 30-day free trial. While the company may have lifted the lid on this promotion, it's clearly not being complacent.
During an earnings interview following Netflix's third quarter 2020 financial results, Chief Operating Officer Greg Peters announced the StreamFest concept:
This promotion will first be tested in India from December 4. It may then expand to other countries, depending on the success of the trial in India.
StreamFest was first introduced as a concept by Protocol. According to the site, analysis of the Netflix Android app found references to StreamFest.
In the code, there are lines that mention that StreamFest will be accessible through all Netflix supported devices and that users will not need to enter their credit card details.
The site also reported that a text string says "Netflix StreamFest is at capacity." This suggests that there may be a user limit, although nothing has been confirmed by Netflix.
During the earnings report, Netflix announced that its third-quarter subscriber growth of 2.2 million members worldwide was below expectations.
However, he attributed this to the huge 25.86 million members he amassed in the first half of 2020 due to the coronavirus pandemic. That's more than he earned in all of 2019.
Netflix recently increased the cost of its standard two-screen plan in Canada from $14 to $15.
When asked if Netflix would increase the cost of its subscriptions elsewhere, Greg Peters declined to comment. He said the company only increases its prices when it feels it provides more value to its members.
He also noted that the company is "back to a near steady state of physical production" as the pandemic has also impacted Netflix's original content production schedule.
Still not sure if you should subscribe to Netflix? The StreamFest promotion will be perfect for you to sample the content and see if it's worth it.
Of course, with benefits like viewing on multiple screens and the lack of ads, there are plenty of reasons to check out Netflix.
