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Netflix to Enhance Video Viewing Experience With New Feature
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Netflix (NFLX - Free Report) is reportedly in the process of testing a new replay feature, which will make it easy for viewers to jump to a particular scene.
While watching a movie or series, viewers often have to toggle left or right to find the beginning of a favorite scene. Netflix is trying to address the issue and enhance the video viewing experience for its growing and loyal subscriber base.
The development of this feature is still at a nascent stage where a “watch that scene again” pop up is being incorporated and tested on popular movies like Mowgli and Dumplin’.
However, the company representatives were unclear about the details and stated that they were just "just looking to learn" and "may or may not roll it out more broadly."
Nonetheless, we believe that Netflix’s focus to address various minute issues faced by viewers will help the company maintain its stronghold in the market. Moreover, with the addition of such features, the streaming giant will be able to make the platform more attractive to subscribers.
Growing Subscriber Base — Key Catalyst
Netflix is consistently expanding its subscriber base on the back of rise in Internet TV and binge viewing. This also reflects the growing appeal of the streaming platform, primarily driven by a solid content portfolio mix of in-house originals and licensed content.
The company is perennially either expanding its content portfolio or coming up with new ideas to enhance viewer experience.
Consequently, subscriber number and loyalty, both are on an uptrend. The company recorded 137 million subscribers globally in the September quarter, and expects to add 9.4 million more in the fourth quarter of 2018.
Features Add an Edge
Netflix faces stiff competition from Amazon’s (AMZN - Free Report) Prime Video, Hulu, YouTube and HBO. Given the scope for growth in the market, all the players are ramping up their efforts to boost subscriber base. Competition is heating up further with players like Facebook and Twitter making efforts to improve video viewing on their platform.
The company is coming up with striking features to counter competition with Amazon Prime, its chief rival. A notable feature is the profiles Netflix offers to users. Different members using the same subscription have the option to create their own profiles and use their own devices to watch different shows.
This feature gives a real competitive edge to Netflix, especially because this is where Amazon Prime faces a setback. In case of Amazon, two members cannot watch the same show via the same subscription on their respective devices at their own pace. If one member replays the video, the other member will also have to watch the video all over again.
The new replay feature, which the company is developing and testing, seems like another such effort to ease video viewing experience.
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
Image: Bigstock
Netflix to Enhance Video Viewing Experience With New Feature
Netflix (NFLX - Free Report) is reportedly in the process of testing a new replay feature, which will make it easy for viewers to jump to a particular scene.
While watching a movie or series, viewers often have to toggle left or right to find the beginning of a favorite scene. Netflix is trying to address the issue and enhance the video viewing experience for its growing and loyal subscriber base.
The development of this feature is still at a nascent stage where a “watch that scene again” pop up is being incorporated and tested on popular movies like Mowgli and Dumplin’.
However, the company representatives were unclear about the details and stated that they were just "just looking to learn" and "may or may not roll it out more broadly."
Nonetheless, we believe that Netflix’s focus to address various minute issues faced by viewers will help the company maintain its stronghold in the market. Moreover, with the addition of such features, the streaming giant will be able to make the platform more attractive to subscribers.
Growing Subscriber Base — Key Catalyst
Netflix is consistently expanding its subscriber base on the back of rise in Internet TV and binge viewing. This also reflects the growing appeal of the streaming platform, primarily driven by a solid content portfolio mix of in-house originals and licensed content.
The company is perennially either expanding its content portfolio or coming up with new ideas to enhance viewer experience.
Consequently, subscriber number and loyalty, both are on an uptrend. The company recorded 137 million subscribers globally in the September quarter, and expects to add 9.4 million more in the fourth quarter of 2018.
Features Add an Edge
Netflix faces stiff competition from Amazon’s (AMZN - Free Report) Prime Video, Hulu, YouTube and HBO. Given the scope for growth in the market, all the players are ramping up their efforts to boost subscriber base. Competition is heating up further with players like Facebook and Twitter making efforts to improve video viewing on their platform.
The company is coming up with striking features to counter competition with Amazon Prime, its chief rival. A notable feature is the profiles Netflix offers to users. Different members using the same subscription have the option to create their own profiles and use their own devices to watch different shows.
This feature gives a real competitive edge to Netflix, especially because this is where Amazon Prime faces a setback. In case of Amazon, two members cannot watch the same show via the same subscription on their respective devices at their own pace. If one member replays the video, the other member will also have to watch the video all over again.
The new replay feature, which the company is developing and testing, seems like another such effort to ease video viewing experience.
Netflix, Inc. Price and Consensus
Netflix, Inc. Price and Consensus | Netflix, Inc. Quote
Netflix currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.
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Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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