TL;DR: It's long been said that Netflix is replacing traditional television. If a recent report is accurate, it might soon become a lot more like non-internet TV by livestreaming content. That could lead to popular voting shows, sports, and comedy specials being broadcast live on the platform.
Deadline reports that Netflix is currently "exploring" the launch of livestreaming and has confirmed that the capability is in the early stages of development. The publication notes the feature could be used to engage audiences with live voting for talent contests---something we see plenty of on traditional TV.
Live comedy could be another prime use for livestreaming. The first Netflix is a Joke festival was held earlier this year, featuring performances from over 300 comedians that included Dave Chappelle, Larry David, Bill Burr, and Jerry Seinfeld. Around 12 of the shows were filmed and will be shown on Netflix this month and in June, but many enjoy watching comedy live---though Netflix would probably delay it slightly to cut away from incidents like Dave Chappelle being attacked on stage during the event.
Disney+, which added 8 million new subscribers last quarter as Netflix lost subs for the first time ever, livestreamed the Academy Awards in February and will air celebrity dancing show Dancing with the Stars live later this year.
Netflix might still be the streaming king, but its crown has been slipping recently. Another price hike in January contributed to the unexpected decline in subscribers. Since then, it has talked about ad-supported tiers and cracking down on password sharing; it also laid off staff at fan site Tudum. Livestreaming could help things, but a recent report suggests we might simply have reached peak subscription.