Netflix Gears To Launch TikTok-Like Short Clip Feature For Kids This Week: Report

Netflix Inc. NFLX is launching a new TikTok-like short clip feature for kids this week, according to a report by Bloomberg.

What Happened: The new “Kids Clips” feature on Netflix’s iOS app would show short videos from the streaming giant’s existing library of children’s programs, as per the report. Netflix would add new clips daily based on its current and future offerings.

The feature will reportedly begin rolling out this week in the U.S and Spanish-speaking countries in Latin America as well as markets such as Canada, Australia and Ireland.

See Also: Why This Expert Sees Apple As A Major Roadblock In Netflix's Gaming Foray

Why It Matters: Netflix is looking for ways to engage its more than 200 million subscribers. The new feature is also part of the company’s efforts to attract young viewers to its platform.

It is said to be similar to its “Fast Laughs” feature, which shows comedy clips and was launched earlier this year. However, the videos will be viewed horizontally instead of vertically.

It was reported in September that Facebook Inc. FB launched a short-form video content called 'Reels' for Apple Inc.’s AAPL iOS and Alphabet Inc.’s GOOG GOOGL Android in the U.S.

Price Action: Netflix shares closed 0.9% higher in Monday’s regular trading session at $651.45.