Netflix (NFLX) Up; Google's (GOOG) Chromecast Tops Key Amazon Sales List
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Price: $564.80 +1.74%
Rating Summary:
43 Buy, 27 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
43 Buy, 27 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Netflix (Nasdaq: NFLX) is up today following some roundabout positive news.
BTIG's Richard Greenfield pointed out that Google (Nasdaq: GOOG) Chromecast is the number one, best-selling device on Amazon.com (Nasdaq: AMZN) for the entire Electronics category, topping sales of Apple's (Nasdaq: AAPL) Apple TV and Roku.
Chromecast launched last July with a promo for three-months of free Netflix. Despite that initiative ending and limited content on the device, its price of $35 and the massive user base that Android has is certainly propelling sales.
Sales might only go up from here heading into the holiday season; it was announced earlier that a new Hulu channel would be available today. Along with Netflix and YouTube, another fan favorite, Google might be king of the holiday season by turning just about any HD TV into a smart TV.
Key takeaways from Greenfield's report:
* Consumers love streaming content to TVs and the process is getting easier and cheaper.
* First mover apps on Chromecast will benefit including Netflix, YouTube and Hulu. Netflix was the first app available on Roku and it remains the number one most used app today.
* Increasing the penetration of streaming video devices with incredibly easy interfaces will reduce time spent with linear, multichannel television. While there was been a resurgence of noise about “cord-cutting” lately, we are much more concerned about a secular ratings decline as video competition builds.
Shares of Netflix are up 1.8 percent Wednesday.
BTIG's Richard Greenfield pointed out that Google (Nasdaq: GOOG) Chromecast is the number one, best-selling device on Amazon.com (Nasdaq: AMZN) for the entire Electronics category, topping sales of Apple's (Nasdaq: AAPL) Apple TV and Roku.
Chromecast launched last July with a promo for three-months of free Netflix. Despite that initiative ending and limited content on the device, its price of $35 and the massive user base that Android has is certainly propelling sales.
Sales might only go up from here heading into the holiday season; it was announced earlier that a new Hulu channel would be available today. Along with Netflix and YouTube, another fan favorite, Google might be king of the holiday season by turning just about any HD TV into a smart TV.
Key takeaways from Greenfield's report:
* Consumers love streaming content to TVs and the process is getting easier and cheaper.
* First mover apps on Chromecast will benefit including Netflix, YouTube and Hulu. Netflix was the first app available on Roku and it remains the number one most used app today.
* Increasing the penetration of streaming video devices with incredibly easy interfaces will reduce time spent with linear, multichannel television. While there was been a resurgence of noise about “cord-cutting” lately, we are much more concerned about a secular ratings decline as video competition builds.
Shares of Netflix are up 1.8 percent Wednesday.
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