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Netflix (NFLX) Expands Regional Portfolio With Upcoming K-Drama
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Netflix (NFLX - Free Report) announced the production of an upcoming Korean drama, The Trunk, starring Korea’s A-listers, Gong Yoo of Train to Busan and Goblin fame and Seo Hyun-jin, known for Another Miss Oh and The Beauty Inside.
The show, written by Park Eun-young of Hwarang: The Poet Warrior Youth and directed by Kim Gyu-tae of Our Blues fame, the story revolves around a marriage arrangement service, where clients are arranged into a contract marriage for a year with their most suited partner and the series of secrets that unfold after a mysterious trunk floats ashore.
Netflix is investing heavily in Korean-language content since Korea emerged as an entertainment superpower with K-pop groups like BTS, K-dramas like Squid Game and the Oscar-winning Korean movie Parasite dominating the entertainment industry globally.
Globally, Netflix has been focused on strengthening its regional content portfolio with a plethora of foreign-language shows like Kohrra (Indian), The Surrogacy (Mexican) and Sleeping Dog (German).
Turkey’s rom-com Make Me Believe holds the #1 position in its latest Top 10 Non-English Films list with 3.8 million views. Lust Stories 2 grabbed the #3 spot with 3 million views and Spain’s Through My Window: Across the Sea firmly stands at #4 with 2.6 million views.
Although facing stiff competition from peers like Apple (AAPL - Free Report) , Disney (DIS - Free Report) and Amazon (AMZN - Free Report) , Netflix seems to be expecting an increasing trend in its subscriber base with strategies like releasing more non-English content and launching the paid sharing model in four countries — Canada, New Zealand, Spain and Portugal — during the first quarter.
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. It also plans to launch the same model into major markets like Brazil, Britain, France and Mexico.
Encouraging 2023 for Netflix
Netflix shares have surged 49.9% year to date, outperforming the Zacks Consumer Discretionary sector’s return of 13.3%. It outperformed Apple, which has returned 46.8% and Disney, which has returned 2% on a year-to-date basis.
Netflix’s diversified content portfolio, subjected to heavy investments in the production and distribution of localized, foreign-language content, has been aiding its growth.
For the second quarter of 2023, the company forecasts earnings of $2.84 per share, indicating an almost 20% decline from the figure reported in the year-ago quarter. The Zacks Consensus Estimate stands at $2.82 per share, up by a penny over the past 30-days.
Total revenues are anticipated to be $8.242 billion, suggesting growth of 3.4% year over year or 6% on a forex-neutral basis. The consensus mark for revenues stands at $8.26 billion, indicating 3.63% growth from the figure reported in the year-ago quarter.
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Netflix (NFLX) Expands Regional Portfolio With Upcoming K-Drama
Netflix (NFLX - Free Report) announced the production of an upcoming Korean drama, The Trunk, starring Korea’s A-listers, Gong Yoo of Train to Busan and Goblin fame and Seo Hyun-jin, known for Another Miss Oh and The Beauty Inside.
The show, written by Park Eun-young of Hwarang: The Poet Warrior Youth and directed by Kim Gyu-tae of Our Blues fame, the story revolves around a marriage arrangement service, where clients are arranged into a contract marriage for a year with their most suited partner and the series of secrets that unfold after a mysterious trunk floats ashore.
Netflix is investing heavily in Korean-language content since Korea emerged as an entertainment superpower with K-pop groups like BTS, K-dramas like Squid Game and the Oscar-winning Korean movie Parasite dominating the entertainment industry globally.
Netflix has also experienced record-breaking hits from Korean series like Squid Game, All of Us Are Dead and The Glory, with the streaming giant announcing an investment of $2.5 billion in South-Korean creative content over the next four years, building on an already strong portfolio of Korean movies, series and reality shows.
Globally, Netflix has been focused on strengthening its regional content portfolio with a plethora of foreign-language shows like Kohrra (Indian), The Surrogacy (Mexican) and Sleeping Dog (German).
Netflix, Inc. Price and Consensus
Netflix, Inc. price-consensus-chart | Netflix, Inc. Quote
Turkey’s rom-com Make Me Believe holds the #1 position in its latest Top 10 Non-English Films list with 3.8 million views. Lust Stories 2 grabbed the #3 spot with 3 million views and Spain’s Through My Window: Across the Sea firmly stands at #4 with 2.6 million views.
Although facing stiff competition from peers like Apple (AAPL - Free Report) , Disney (DIS - Free Report) and Amazon (AMZN - Free Report) , Netflix seems to be expecting an increasing trend in its subscriber base with strategies like releasing more non-English content and launching the paid sharing model in four countries — Canada, New Zealand, Spain and Portugal — during the first quarter.
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. It also plans to launch the same model into major markets like Brazil, Britain, France and Mexico.
Encouraging 2023 for Netflix
Netflix shares have surged 49.9% year to date, outperforming the Zacks Consumer Discretionary sector’s return of 13.3%. It outperformed Apple, which has returned 46.8% and Disney, which has returned 2% on a year-to-date basis.
However, this Zacks Rank #3 (Hold) company underperformed Amazon, which has returned 60.3% on a year-to-date basis. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Netflix’s diversified content portfolio, subjected to heavy investments in the production and distribution of localized, foreign-language content, has been aiding its growth.
For the second quarter of 2023, the company forecasts earnings of $2.84 per share, indicating an almost 20% decline from the figure reported in the year-ago quarter. The Zacks Consensus Estimate stands at $2.82 per share, up by a penny over the past 30-days.
Total revenues are anticipated to be $8.242 billion, suggesting growth of 3.4% year over year or 6% on a forex-neutral basis. The consensus mark for revenues stands at $8.26 billion, indicating 3.63% growth from the figure reported in the year-ago quarter.