The news comes after the streaming giant revealed that it had lost more subscribers than it gained for the first time in a decade.
Here we take a look at some of the changes Netflix could be about to make.
What type of shows will Netflix be offering?
Live shows could mean live voting, which could be used in its competition series or talent contests such as Dance 100.
Or if Netflix will bring back its live comedy event, Netflix Is A Joke festival, which saw around 300 stand-up performances across LA.
Other options include live reunions or live specials for shows.
What are other new features coming to Netflix?
Under new rules, Netflix users who share a password with someone outside their household may soon have to pay a fee.
As the streaming giant saw a loss of nearly 200,000 subscribers, they claimed nearly 100 million households were benefitting from shared passwords.
Netflix has begun to roll out a feature that prevents people who are not authorised to use the account through an email or text code.
In April 2022, Netflix also announced plans to introduce adverts to make cheaper subscription plans available to viewers.
Netflix CEO Reed Hastings said that building adverts into the service would give consumers "choice".
Hastings said he had traditionally been "against the complexity of advertising, and a big fan of the simplicity of subscription.
"But as much as I am a fan of that, I am a bigger fan of consumer choice.
"And allowing consumers who would like to have a lower price, and are advertising-tolerant, get what they want, makes a lot of sense."
A version of this article originally appeared on NationalWorld.com