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Netflix (NFLX) Unveils The Seven Dials Mystery by Chris Chibnall

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Netflix (NFLX - Free Report) shares have returned 24.7% in the year-to-date period compared with the Zacks Consumer Discretionary sector’s 10.2% growth, attributed to the success of its recently released content and a strong pipeline for 2024.

The company is set to captivate mystery enthusiasts once again with its latest announcement of The Seven Dials Mystery, an upcoming series penned by Chris Chibnall, the creative mind behind the acclaimed Broadchurch and Doctor Who.

The Seven Dials Mystery is a detective fiction by Agatha Christie, which was first published in the United Kingdom by William Collins & Sons on Jan 24, 1929, and in the United States by Dodd, Mead and Company later in the same year.

The book centers around the aristocratic couple Sir Oswald and Lady Coote, who throw an extravagant party at their countryside estate. Among the guests, there is the habitual oversleeper Gerald Wade, who often becomes the target of jests due to his tardiness. Several guests hatch a plan to prank Gerald by placing eight alarm clocks in his room, set to go off at various intervals throughout the night. However, the morning after the party, Gerald Wade is found dead in his room and one of the eight alarm clocks is missing. This sets off a chain of cryptic murders within the mansion, each involving a different guest and a missing object.

Executive produced by Suzanne Mackie of Orchid Pictures, known for her work on the Emmy and Golden Globe-winning series, The Crown, and Chris Sussman of Good Omens fame, The Seven Dials Mystery boasts a stellar lineup both in front of and behind the camera. Chris Sweeney, acclaimed for his work on The Tourist and Back to Life, will be directing the series, adding his expertise to this highly anticipated project.

The Seven Dials Mystery marks the first collaboration between Orchid Pictures and Netflix, with production set to commence this summer. Chris Chibnall will not only pen the series but also serve as an executive producer through his production company, Imaginary Friends.

James Prichard of Agatha Christie Limited expressed his delight in seeing Christie's beloved characters, including Bundle Brent, brought to life through Chibnall's script and the collaborative efforts of Orchid Pictures and Netflix.

NFLX’s Solid Content Portfolio to Drive Top-Line Growth

Netflix has a variety of new content coming in the rest of 2024, including movies, TV shows and original films, which is expected to drive the company’s top-line growth in the near term.

For the first quarter of 2024, Netflix forecasts revenues to increase 16% on a F/X neutral basis.  This Zacks Rank #3 (Hold) company projects earnings of $4.49 per share, suggesting growth of 55.9% year over year or 12% on a foreign-exchange neutral basis. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Zacks Consensus Estimate for NFLX’s revenues for the first quarter is pegged at $9.25 billion, indicating growth of 13.35% year over year. The consensus mark for earnings has remained steady over the past 30 days at $4.49 per share.

Some of the new content coming to Netflix in April 2024 includes the nature docuseries, Our Living World, German action series, Crooks (Season 1), stand-up comedy special, Demetri Martin: Demetri Deconstructed, and the Italian romance drama, The Tearsmith. Other content includes kids’ animated series, Spirit Rangers (Season 3), the Italian period drama, Brigands: The Quest for Gold, Japanese action-comedy movie, City Hunter, and the K-drama series called Parasyte: The Grey among others.

This is expected to fend off competition from industry peers like Disney (DIS - Free Report) , Amazon (AMZN - Free Report) and Apple (AAPL - Free Report) . Netflix has underperformed Disney but outperformed Amazon and Apple. While shares of DIS and AMZN have gained 35.5% and 18.7% year to date, respectively, AAPL has plunged 10.9%.

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