Netflix Wants to Enter the News Business With a TV Show Rivaling ’60 Minutes’

FILE PHOTO: The Netflix logo is pictured on a television remote in this illustration photograph taken in Encinitas, California, U.S., on January 18, 2017. REUTERS/Mike Blake/File Photo GLOBAL BUSINESS WEEK AHEAD SEARCH GLOBAL BUSINESS 17 JULY FOR ALL IMAGES

Netflix is in the early stages of creating a weekly news magazine show to rival CBS’s “60 Minutes” and ABC’s “20/20”.

The streaming giant reportedly spotted an opportunity in the market for a “current affairs TV show encompassing both sides of the political divide,” said a TV executive who spoke to MarketWatch on the condition of anonymity.

This decision could provide additional programming for the 70% of its viewers who use the streaming service on their TVs; and The Harris Poll found that Netflix was one of the top five must-have apps for Smart TV owners.

Our 2012 survey also revealed that TV was the preferred mode of news consumption even though online was set to match or even outpace it. Now, with Smart TVs becoming increasingly ubiquitous, the streaming service’s interest in news seems fated.

The news cycle has become more partisan in recent years and reality TV eclipsed magazine shows, but Netflix hopes to revive the genre.