Arrested Development Buzz Highlights Strength of Netflix (NFLX) - BTIG
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Price: $73.81 +4.10%
Rating Summary:
58 Buy, 25 Hold, 2 Sell
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Today's Overall Ratings:
Up: 2 | Down: 5 | New: 34
Rating Summary:
58 Buy, 25 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 2 | Down: 5 | New: 34
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People are fired-up for Netflix's (NASDAQ: NFLX) launch of season 4 of Arrested Development on May 26th. Illustrating the buzz, analysts at BTIG Research took some video of the New York-tour stops of the iconic Bluth Frozen Banana Stand from the series. Video showed that lines were literally wrapped around the block.
In addition to filming the lines, BTIG talked to 427 consumers waiting in the lines about whether they were Netflix subscribers, whether they had been subscribers in the past and whether they planned to subscribe to Netflix in order to watch Arrested Development.
Looking at some numbers from the interviews, BTIG's highlights:
368 Netflix subscribers (86% of those we spoke with), with 59 not currently subscribing to Netflix
37 of the 59 (63%) who did not currently subscribe to Netflix indicated they would or would likely sign up for Arrested Development
28 of the 59 (48%) who did not currently subscribe to Netflix had been subscribers in the past
17 of the 28 (61%) who did not currently subscribe to Netflix but had in the past, indicated they would or would likely sign up for Arrested Development as it launches on Netflix.
Analyst Richard Greenfield said the interviews "bolstered our confidence that Netflix was rebuilding consumer confidence." In addition, the Arrested Development "is clearly increasing the happiness of Netflix subscribers, which should reduce churn."
The firm has a Buy rating and $250 price target on Netflix.
The firm's full report can be found here.
In addition to filming the lines, BTIG talked to 427 consumers waiting in the lines about whether they were Netflix subscribers, whether they had been subscribers in the past and whether they planned to subscribe to Netflix in order to watch Arrested Development.
Looking at some numbers from the interviews, BTIG's highlights:
Analyst Richard Greenfield said the interviews "bolstered our confidence that Netflix was rebuilding consumer confidence." In addition, the Arrested Development "is clearly increasing the happiness of Netflix subscribers, which should reduce churn."
The firm has a Buy rating and $250 price target on Netflix.
The firm's full report can be found here.
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