Netflix (NFLX) Countering Studios with $100M Original Series
Tweet
Share
E-mailGet Alerts NFLX Hot Sheet
Price: $79.59 -0.69%
Rating Summary:
57 Buy, 26 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
57 Buy, 26 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Netflix Inc. (NASDAQ: NFLX) is countering HBO's refusal to sell rights to its shows by creating its own original content with a $100 million, two-season deal for the original series "House of Cards."
Analysts have called this announcement bad news for Time Warner's (NYSE: TWX) HBO, as the move will create increased costs for doing business in the premium pay-TV market, according to a report from the New York Post on Monday.
The ripple effect that will be caused by Netflix will be "cataclysmic" according to one studio chief.
HBO lost 1.5 million subscribers last year, despite appearing to have stemmed the losses in recent months.
Shares of Netflix are up 2.51 percent to $214.66 in midday market movement on Monday.
Analysts have called this announcement bad news for Time Warner's (NYSE: TWX) HBO, as the move will create increased costs for doing business in the premium pay-TV market, according to a report from the New York Post on Monday.
The ripple effect that will be caused by Netflix will be "cataclysmic" according to one studio chief.
HBO lost 1.5 million subscribers last year, despite appearing to have stemmed the losses in recent months.
Shares of Netflix are up 2.51 percent to $214.66 in midday market movement on Monday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Viking Holdings (VIK) PT Raised to $82 at Mizuho
- Walmart (WMT) PT Lowered to $125 at JPMorgan, Overweight Rating Maintained as 'Short Case Feels Greedy'
- Mizuho Reiterates Outperform Rating on Broadcom Limited (AVGO) Into EPS
Create E-mail Alert Related Categories
Analyst Comments, Corporate NewsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
