Shares of Netflix (NFLX) Move Higher as Investors Bet on Original Content
Netflix, Inc. (Nasdaq: NFLX) shares are making a strong move higher early Monday amid reports of early success for at least one segment.
News over the weekend indicated a new original series called "Lillyhammer" gained early accolades. Further screenings of the series, which is about a mobster who moves to Lillehammer, Norway, under witness protection after testifying against his boss, was said to grab about 2 percent of the Norwegian market when aired last week on NRK1, the WSJ noted. The series is co-written and produced by E Street guitarist and "The Sopranos" actor Steven Van Zandt, also an actor in the show.
Whether original programming -- normally costing less than licensing -- is the direction Netflix is headed in is anyone's guess. But with just 1.9 million International subs reported in the latest quarter, compared to 23.5 million in the U.S., and a loss of 2.8 million DVD-only subs, Netflix might be pulling out all the stops for customer attraction and retention.
The stock last traded up nearly 3 percent to around $127.25.
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News over the weekend indicated a new original series called "Lillyhammer" gained early accolades. Further screenings of the series, which is about a mobster who moves to Lillehammer, Norway, under witness protection after testifying against his boss, was said to grab about 2 percent of the Norwegian market when aired last week on NRK1, the WSJ noted. The series is co-written and produced by E Street guitarist and "The Sopranos" actor Steven Van Zandt, also an actor in the show.
Whether original programming -- normally costing less than licensing -- is the direction Netflix is headed in is anyone's guess. But with just 1.9 million International subs reported in the latest quarter, compared to 23.5 million in the U.S., and a loss of 2.8 million DVD-only subs, Netflix might be pulling out all the stops for customer attraction and retention.
The stock last traded up nearly 3 percent to around $127.25.
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
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