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Netflix (NFLX) Expands International Content With Indian Dramas
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Netflix (NFLX - Free Report) announced that Indian comedy drama Choona, starring actor Jimmy Shergill, will be released on Aug 3. Directed by Pushpendra Nath Mishra of Taj Mahal 1989 fame, the story revolves around six small-town average joes with a disorganized heist plan to take vengeance on a powerful politician.
The company has been expanding its India-based content with a plethora of upcoming shows. Choona will follow Kohrra, which is set to release on Jul 15. It also announced the release of mystery thriller Do Patti, starring Kajol and Kriti Sanon in lead roles. These shows add to Netflix’s already popular content portfolio that includes Lust Stories 2, Scoop, Khakee – The Bihar Chapter, Rana Naidu, Class, Mission Majnu and more.
Globally, the company has been focussed on expanding its original content portfolio, with a range of foreign-language content like King the Land (Korean), Sleeping Dog (German) and The Surrogacy (Mexican).
Turkey’s rom-com Make Me Believe secured the first position on NFLX’s latest Top 10 Non-English Films list with 3.8 million views. Lust Stories 2 grabbed the third spot. Spain’s Through My Window: Across the Sea remained at the fourth position on the list with 2.6 million views.
The company is benefiting from strong viewership of foreign language-based films and shows amid stiff competition from its peers like Apple (AAPL - Free Report) , Disney (DIS - Free Report) and Amazon (AMZN - Free Report) . Its focus on increasing the local content in India and other Asia Pacific countries has been fruitful.
In the first quarter of 2023, Netflix recorded 1.5 million paid subscribers, up 33.9% year over year.
Moreover, the company is expected to benefit from the launch of paid sharing initiative as well as growing demand for cheaper ad-supported tier. It introduced paid sharing in four countries (Canada, New Zealand, Spain and Portugal) during the first quarter. Although Netflix witnessed subscription cancellations at the initial stage of the launch, there was a gradual improvement in consumer engagement.
Netflix launched its paid sharing model in the United States on May 23, notifying members that their accounts cannot be shared for free with users outside their residences. The company has plans to launch the paid-sharing model in major markets like Brazil, Britain, France and Mexico.
Netflix’s 2023 Prospects
Netflix’s shares have risen 50.5% year to date, outperforming the Zacks Consumer Discretionary sector’s return of 13.5%. It also outperformed Apple and Disney but underperformed Amazon.
Shares of Apple, Disney and Amazon have returned 46.1%, 3.8% and 55.7%, respectively, on a year-to-date basis.
Netflix, which currently has a Zacks Rank #3 (Hold), is expected to benefit from its diversified content portfolio, which is attributable to heavy investments in the production and distribution of localized, foreign-language content. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
For the second quarter of 2023, total revenues are anticipated to be $8.242 billion, indicating growth of 3.4% year over year or 6% on a forex-neutral basis.
The Zacks Consensus Estimate for revenues is pegged at $8.26 billion, implying an improvement of 3.61% from that reported in the year-ago quarter.
Netflix projects earnings of $2.84 per share for the second quarter, indicating a 20% decline from that registered in the year-ago period.
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Netflix (NFLX) Expands International Content With Indian Dramas
Netflix (NFLX - Free Report) announced that Indian comedy drama Choona, starring actor Jimmy Shergill, will be released on Aug 3. Directed by Pushpendra Nath Mishra of Taj Mahal 1989 fame, the story revolves around six small-town average joes with a disorganized heist plan to take vengeance on a powerful politician.
The company has been expanding its India-based content with a plethora of upcoming shows. Choona will follow Kohrra, which is set to release on Jul 15. It also announced the release of mystery thriller Do Patti, starring Kajol and Kriti Sanon in lead roles. These shows add to Netflix’s already popular content portfolio that includes Lust Stories 2, Scoop, Khakee – The Bihar Chapter, Rana Naidu, Class, Mission Majnu and more.
Globally, the company has been focussed on expanding its original content portfolio, with a range of foreign-language content like King the Land (Korean), Sleeping Dog (German) and The Surrogacy (Mexican).
Turkey’s rom-com Make Me Believe secured the first position on NFLX’s latest Top 10 Non-English Films list with 3.8 million views. Lust Stories 2 grabbed the third spot. Spain’s Through My Window: Across the Sea remained at the fourth position on the list with 2.6 million views.
The company is benefiting from strong viewership of foreign language-based films and shows amid stiff competition from its peers like Apple (AAPL - Free Report) , Disney (DIS - Free Report) and Amazon (AMZN - Free Report) . Its focus on increasing the local content in India and other Asia Pacific countries has been fruitful.
Netflix, Inc. Price and Consensus
Netflix, Inc. price-consensus-chart | Netflix, Inc. Quote
In the first quarter of 2023, Netflix recorded 1.5 million paid subscribers, up 33.9% year over year.
Moreover, the company is expected to benefit from the launch of paid sharing initiative as well as growing demand for cheaper ad-supported tier. It introduced paid sharing in four countries (Canada, New Zealand, Spain and Portugal) during the first quarter. Although Netflix witnessed subscription cancellations at the initial stage of the launch, there was a gradual improvement in consumer engagement.
Netflix launched its paid sharing model in the United States on May 23, notifying members that their accounts cannot be shared for free with users outside their residences. The company has plans to launch the paid-sharing model in major markets like Brazil, Britain, France and Mexico.
Netflix’s 2023 Prospects
Netflix’s shares have risen 50.5% year to date, outperforming the Zacks Consumer Discretionary sector’s return of 13.5%. It also outperformed Apple and Disney but underperformed Amazon.
Shares of Apple, Disney and Amazon have returned 46.1%, 3.8% and 55.7%, respectively, on a year-to-date basis.
Netflix, which currently has a Zacks Rank #3 (Hold), is expected to benefit from its diversified content portfolio, which is attributable to heavy investments in the production and distribution of localized, foreign-language content. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
For the second quarter of 2023, total revenues are anticipated to be $8.242 billion, indicating growth of 3.4% year over year or 6% on a forex-neutral basis.
The Zacks Consensus Estimate for revenues is pegged at $8.26 billion, implying an improvement of 3.61% from that reported in the year-ago quarter.
Netflix projects earnings of $2.84 per share for the second quarter, indicating a 20% decline from that registered in the year-ago period.