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Reportedly, Netflix Inc (NFLX - Analyst Report) has signed a partnership deal with Fox Television Studios to finance The Killing, a television crime drama, after its production was cancelled by AMC Networks (AMCX - Snapshot Report) in 2012.

Under the terms of the deal, Netflix will be able to stream the show in the U.S. and Canada just three months after the show premieres on AMC’s network. Netflix can also get rights to stream the show overseas.

This is not the first time that Netflix has resurrected a canned show. The company had helped in reviving Emmy Award winner show Arrested Development and streamed all new episodes on a first run basis in May this year.

Netflix continues to forge partnerships with leading studios, publishers and production companies to boost its content library. The company recently extended a multi-year partnership deal with CBS Corp (CBS - Analyst Report), which will enable Netflix to stream new titles such as L.A. Complex, 4400, and CSI: NY in addition to the existing shows.

Moreover, Netflix recently renewed an expanded deal with PBS Distribution. The deal will help the company to stream British murder mystery The Bletchley Circle, kids pre-school show Super Why!, children shows Wild Kratts, Caillou and Arthur, documentaries such as Prohibition and Central Park Five and past seasons of non-fiction series like Nova and Secrets of the Dead.

These partnerships have not only expanded Netflix’s content portfolio but also helped it to target different sections of the audience. They have also helped Netflix to venture into different genres like comedy, political thrillers, autobiographies and horror.

Netflix’s diversified offerings help it to stand out among other streaming content providers such as Amazon (AMZN - Analyst Report), HBO and Hulu. This is  evident from the fact that in the last-reported quarter, the company added 2.03 million subscribers in the domestic market and 1.02 million subscribers in the international market.

However, higher costs owing to international ventures and licensing fees and continued subscriber losses in its DVD business are near-term headwinds. Loss from the international business, due to higher content and marketing costs, is another concern in the near term.

Nonetheless, we believe that new content streaming deals and its original content portfolio should be able to attract new subscribers both in the U.S. and international markets.

Currently, Netflix has a Zacks Rank #3 (Hold).

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