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Netflix (NFLX) Expands Portfolio With The Burning Body Launch
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Netflix (NFLX - Free Report) recently announced that its highly anticipated miniseries, The Burning Body, is set to premiere on Sep 8. The series, produced by Arcadia Motion Pictures, is inspired by a real-life crime that occurred in 2017. The story revolves around a man found burned in the Foix reservoir in the province of Barcelona.
Starring Úrsula Corberó from the hit series Money Heist and Quim Gutiérrez from Honeymoon with my Mother, The Burning Body promises to keep viewers on the edge of their seats. The cast includes José Manuel Poga, Isak Férriz, and Eva Llorach, among others.
Netflix is benefiting from a strong portfolio, with The Witcher Season 3 debuting at number one on the TV list and Extraction 2 maintaining its reign as the top film for the third consecutive week, as per the latest Top 10-week list.
As demand for quality content and captivating storytelling continues to grow, Netflix has consistently delivered with its original productions. The success of The Witcher franchise and the ongoing popularity of action films like Extraction 2 demonstrate Netflix's ability to attract and engage a global audience.
Netflix's international expansion and its growing subscriber base in regions like Asia and Europe promise growth. As demand for streaming services continues to rise worldwide, Netflix stands to benefit from its strong brand recognition and extensive content library.
Netflix has been focused on expanding its content with shows of different genres and languages. As per the Top-10 list Spain’s Through My Window: Across the Sea remained at #1 with 10.4 million views. Turkish rom-com Make Me Believe held at #2 (9.6 million views) followed by South African heist drama iNumber Number: Jozi Gold at #3 (5 million views). New entrants included India’s Lust Stories 2 (4.2 million views) and Korea’s King of Clones (2 million views).
Netflix’s Prospects Bright in 2023
Netflix shares have surged 49.7% year to date, outperforming the Zacks Consumer Discretionary sector’s return of 12.1%. NFLX shares have also outperformed Disney (DIS - Free Report) and Apple (AAPL - Free Report) but underperformed Amazon (AMZN - Free Report) . Shares of Apple, Amazon and Disney have returned 4.2%, 48.1% and 55%, respectively.
The company's prospects remain bright due to a diversified content portfolio, cheaper ad-supported plans and a password-sharing initiative despite stiff competition from Disney, Apple and Amazon.
Netflix’s ad-supported cheaper plans are gaining user attention. It launched its ad-supported service on Nov 3, 2022, with the basic plan costing $6.99 a month in the United States.
Netflix launched its paid password-sharing model in the United States on May 23, notifying members that their accounts cannot be shared for free with users outside their households.
Netflix already launched the paid sharing model in Canada, New Zealand, Spain and Portugal in first-quarter 2023. Moreover, NFLX has plans to launch the paid-sharing model in major markets like Brazil, Britain, France and Mexico.
Disney followed in the footsteps of Netflix to offer its ad-supported tier starting Dec 8, 2022. Its streaming service, Disney+, as of Apr 1, 2023, had 157.8 million paid subscribers compared with 161.8 million as of Dec 31, 2022.
Further, Amazon is reportedly planning an ad-supported tier for Prime Video. The company is likely to give Prime subscribers the option to pay more for an ad-free alternative if it introduces ads in Prime Video.
Nevertheless, Netflix is expected to continue dominating the streaming space, attributable to heavy investments in the production and distribution of localized, foreign-language content.
For the second quarter of 2023, total revenues are anticipated to be $8.242 billion, suggesting growth of 3.4% year over year or 6% on a forex-neutral basis. Netflix forecasts earnings of $2.84 per share, indicating an almost 20% decline from the figure reported in the year-ago quarter.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
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Netflix (NFLX) Expands Portfolio With The Burning Body Launch
Netflix (NFLX - Free Report) recently announced that its highly anticipated miniseries, The Burning Body, is set to premiere on Sep 8. The series, produced by Arcadia Motion Pictures, is inspired by a real-life crime that occurred in 2017. The story revolves around a man found burned in the Foix reservoir in the province of Barcelona.
Starring Úrsula Corberó from the hit series Money Heist and Quim Gutiérrez from Honeymoon with my Mother, The Burning Body promises to keep viewers on the edge of their seats. The cast includes José Manuel Poga, Isak Férriz, and Eva Llorach, among others.
Netflix is benefiting from a strong portfolio, with The Witcher Season 3 debuting at number one on the TV list and Extraction 2 maintaining its reign as the top film for the third consecutive week, as per the latest Top 10-week list.
As demand for quality content and captivating storytelling continues to grow, Netflix has consistently delivered with its original productions. The success of The Witcher franchise and the ongoing popularity of action films like Extraction 2 demonstrate Netflix's ability to attract and engage a global audience.
Netflix's international expansion and its growing subscriber base in regions like Asia and Europe promise growth. As demand for streaming services continues to rise worldwide, Netflix stands to benefit from its strong brand recognition and extensive content library.
Netflix has been focused on expanding its content with shows of different genres and languages. As per the Top-10 list Spain’s Through My Window: Across the Sea remained at #1 with 10.4 million views. Turkish rom-com Make Me Believe held at #2 (9.6 million views) followed by South African heist drama iNumber Number: Jozi Gold at #3 (5 million views). New entrants included India’s Lust Stories 2 (4.2 million views) and Korea’s King of Clones (2 million views).
Netflix’s Prospects Bright in 2023
Netflix shares have surged 49.7% year to date, outperforming the Zacks Consumer Discretionary sector’s return of 12.1%. NFLX shares have also outperformed Disney (DIS - Free Report) and Apple (AAPL - Free Report) but underperformed Amazon (AMZN - Free Report) . Shares of Apple, Amazon and Disney have returned 4.2%, 48.1% and 55%, respectively.
Netflix, Inc. Price and Consensus
Netflix, Inc. price-consensus-chart | Netflix, Inc. Quote
The company's prospects remain bright due to a diversified content portfolio, cheaper ad-supported plans and a password-sharing initiative despite stiff competition from Disney, Apple and Amazon.
Netflix’s ad-supported cheaper plans are gaining user attention. It launched its ad-supported service on Nov 3, 2022, with the basic plan costing $6.99 a month in the United States.
Netflix launched its paid password-sharing model in the United States on May 23, notifying members that their accounts cannot be shared for free with users outside their households.
Netflix already launched the paid sharing model in Canada, New Zealand, Spain and Portugal in first-quarter 2023. Moreover, NFLX has plans to launch the paid-sharing model in major markets like Brazil, Britain, France and Mexico.
Disney followed in the footsteps of Netflix to offer its ad-supported tier starting Dec 8, 2022. Its streaming service, Disney+, as of Apr 1, 2023, had 157.8 million paid subscribers compared with 161.8 million as of Dec 31, 2022.
Further, Amazon is reportedly planning an ad-supported tier for Prime Video. The company is likely to give Prime subscribers the option to pay more for an ad-free alternative if it introduces ads in Prime Video.
Nevertheless, Netflix is expected to continue dominating the streaming space, attributable to heavy investments in the production and distribution of localized, foreign-language content.
For the second quarter of 2023, total revenues are anticipated to be $8.242 billion, suggesting growth of 3.4% year over year or 6% on a forex-neutral basis. Netflix forecasts earnings of $2.84 per share, indicating an almost 20% decline from the figure reported in the year-ago quarter.
Currently, Netflix carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.