In a surprising tale of enemies turned allies, Comcast (CMCSA - Free Report) and Netflix (NFLX - Free Report) announced an agreement today that will allow the video streaming giant to be accessible on Comcast’s X1 platform.
“Comcast and Netflix have reached an agreement to incorporate Netflix into X1, providing seamless access to the great content offered by both companies. We have much work to do before the service will be available to consumers later this year. We'll provide more details at that time,” the companies said in a joint statement to Recode.
For those unfamiliar with the X1 platform, it is an entertainment operating system that functions similarly to Google’s (GOOGL - Free Report) Chromecast or Apple’s (AAPL - Free Report) Apple TV device. Comcast customers can receive a X1 cable box which is compatible with the software which allows users to access a variety of content, including on-demand features, DVR, and apps like Facebook or Pandora .
With that said, this partnership feels like a win for both companies. Comcast can better compete with its cable rivals as well as its cord-cutter enabling foes like Apple TV, Chromecast, and Roku, while Netflix will now be right in front of potentially millions of new customers.
Of course, the partnership does come as a surprise based on the existing relationship between the two companies. Netflix and other video streaming services have caused many headaches for the big cable business over the last few years, as more and more customers are ditching traditional TV in favor of the cheaper and more personal streaming experience.
On top of that, Netflix and Comcast have also had very public clashes on the topic of net neutrality, with Netflix CEO Reed Hastings openly accusing Comcast of throttling connections to his service and others like it in favor of Comcast’s own content.
Nevertheless, the agreement is real and the companies seem to be playing nice for now. I guess there’s nothing a solid business deal can’t patch up.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
In a surprising tale of enemies turned allies, Comcast (CMCSA - Free Report) and Netflix (NFLX - Free Report) announced an agreement today that will allow the video streaming giant to be accessible on Comcast’s X1 platform.
“Comcast and Netflix have reached an agreement to incorporate Netflix into X1, providing seamless access to the great content offered by both companies. We have much work to do before the service will be available to consumers later this year. We'll provide more details at that time,” the companies said in a joint statement to Recode.
For those unfamiliar with the X1 platform, it is an entertainment operating system that functions similarly to Google’s (GOOGL - Free Report) Chromecast or Apple’s (AAPL - Free Report) Apple TV device. Comcast customers can receive a X1 cable box which is compatible with the software which allows users to access a variety of content, including on-demand features, DVR, and apps like Facebook or Pandora .
With that said, this partnership feels like a win for both companies. Comcast can better compete with its cable rivals as well as its cord-cutter enabling foes like Apple TV, Chromecast, and Roku, while Netflix will now be right in front of potentially millions of new customers.
Of course, the partnership does come as a surprise based on the existing relationship between the two companies. Netflix and other video streaming services have caused many headaches for the big cable business over the last few years, as more and more customers are ditching traditional TV in favor of the cheaper and more personal streaming experience.
On top of that, Netflix and Comcast have also had very public clashes on the topic of net neutrality, with Netflix CEO Reed Hastings openly accusing Comcast of throttling connections to his service and others like it in favor of Comcast’s own content.
Nevertheless, the agreement is real and the companies seem to be playing nice for now. I guess there’s nothing a solid business deal can’t patch up.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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