Introduction

Netflix is a movie & web shows streaming platform launched in 1977 originally as a DVS rental service. Netflix’s saw an exponential growth in it’s streaming during the Covid 19 pandemic. The newly launched feature of ‘Moments’ in Dec 2024 that let’s you record and save your favorite scenes just like YouTube’s clips. Identifying the right key metric is critical to measure its success and align it with broader business goals.

Goal of the feature

‘Moments’ allows users to create, share, and discover curated short clips from their favorite shows and movies, adding a social and interactive dimension to the platform.

User Journey: User watches a scene > proceeds to record the scene > saves in ‘favorite moments’ tab > watches again / shares on socials

Key Metric Recommendation: "Moment discovery rate"

What is it? The percentage of users who engage with a Moment and subsequently start watching the associated show or movie.

Why is it a key metric?

1. Core Business Alignment: Netflix’s primary goal is to increase viewing hours and retain subscribers. Moments that drive content discovery directly contribute to these objectives by encouraging users to explore more content.
2. User Engagement: A high content discovery rate indicates that Moments effectively spark curiosity and align with user preferences.
3. Monetization Potential: Moments that lead to new viewership increase the perceived value of Netflix’s content library, justifying subscription fees.

How to track this key metric?

To calculate Moment discovery rate (MDR), following are the data points that will be needed:

1. User interactions with Moments (views, likes, clicks).
2. Playback data - timestamps
3. Use ML-powered recommendation algorithms to track which Moments drive user actions.
4. A/B test different formats of Moments (e.g., length, tags, or themes) to optimize discovery.
5. Leverage predictive analytics to identify Moments with the highest discovery potential.

Conclusion: