Nigeria, Jan. 21 -- Netflix said it will redesign its mobile application later this year, expanding short-form vertical video features and integrating video podcasts as it responds to growing competition from social and video platforms such as YouTube, TikTok and Instagram.

The plan was outlined during Netflix's fourth-quarter earnings call on Tuesday. Co-chief executive Greg Peters said the new mobile interface is intended to support the company's long-term strategy and provide a foundation for continued experimentation.

"The redesigned app will better serve the expansion of our business over the decade to come," Peters said, adding that it would allow Netflix to "iterate, test, evolve and improve" its services over time.

A central f...