Streaming Giant Expands Reality Content with ‘Building the Band’ and Songwriter Show

  • Netflix is developing music-competition shows inspired by ‘American Idol’ and ‘The Voice’.
  • One show, ‘Building the Band’, will feature musicians auditioning without seeing each other until their final performance.
  • Another show will have songwriters competing to write music for professional artists.
  • These shows are expected to release next year.
  • Netflix aims to offer a series in every genre to appeal to diverse tastes.
  • The streaming giant has 270 million subscribers and is expanding into reality-competition fare.

Netflix is diving into music-competition shows, inspired by ‘American Idol’ and ‘The Voice’. The streaming giant aims to offer a series in every genre to cater to its nearly 270 million subscribers. One show, ‘Building the Band’, features musicians auditioning without seeing each other until their final live performance. Another show will have songwriters competing to write music for professional artists. These shows are expected to release next year.

Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about Netflix’s plans to expand its programming offerings by developing new music-competition shows similar to popular broadcast hits like ‘American Idol’ and ‘The Voice’. It also mentions the company’s ambition to appeal to a diverse audience with various genres, including reality competition shows. The article cites relevant sources such as Netflix’s vice president of nonfiction series and comedy specials, Brandon Riegg, and provides information about the streaming service’s growth in subscribers and its ad tier launch. There is no clear indication of sensationalism or personal perspective presented as a universally accepted truth.
Noise Level: 6
Noise Justification: The article provides information about Netflix’s plans to expand its programming offerings and develop new music-competition shows. However, it contains some irrelevant details such as the mention of NFLX stock price and a brief history of ‘American Idol’ and ‘The Voice’. The article also includes unrelated information about Netflix’s ad tier and streaming bundles. While it offers some insights into Netflix’s strategy, it lacks in-depth analysis or evidence to support its claims.
Public Companies: Netflix (NFLX), NBC Universal (undefined), CBS (undefined), NBC (undefined), ABC (undefined)
Key People: Brandon Riegg (Vice President of Nonfiction Series and Comedy Specials at Netflix), Jeff Gaspin (Vice President of Unscripted Series at Netflix)

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Financial Relevance: Yes
Financial Markets Impacted: Netflix’s stock and advertising revenue
Financial Rating Justification: The article discusses Netflix’s expansion into new genres of programming, including music-competition shows, which could potentially impact its subscriber base and advertising revenue. This is relevant to financial markets as it affects the company’s performance and growth.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: The article discusses Netflix’s strategy to expand its programming and develop new music-competition shows, but there is no mention of an extreme event.

Reported publicly: www.wsj.com