Netflix (NFLX) to Launch Its Swedish Original 'One More Time'
Netflix NFLX announced that it would release, One More Time, globally on Apr 21.
One More Time is a Swedish drama film centering a 40-year-old girl Amelia who gets hit with a tragic accident, waking her up in the past to relive her best day just like she imagined. It climaxes with the realization of getting stuck and figuring out ways to leave the past and return to the present.
Hedda Stiernstedt plays the female lead Amelia alongside other stars, namely Miriam Ingrid, Elinor Silfversparre and Maxwell Cunningham.
The movie has been scripted by Tove Forsman and Sofie Forsman, and directed by debutant Jonatan Etzler. Etzler is known for his work in an award-winning short thriller film, Get Ready With Me.
Netflix, Inc. Price and Consensus
Netflix, Inc. price-consensus-chart | Netflix, Inc. Quote
Strength in Netflix’s Content Portfolio to Aid Prospect
Netflix has made progress in adding diverse content streaming in more than 190 countries, supporting 20 languages. It continues to produce original content to cater to a wider demographic.
By joining with local creators, writers, cast and production teams, it reflects its values toward cultural preservation and passes it to the upcoming generations.
Netflix’s success in its local diversification can be attributed to gaining in-depth knowledge of the market, emphasizing dubbing and subtitling their content, thus connecting it to a larger audience
Its successful global branding and marketing localization strategy helped it establish its presence in the streaming industry.
Netflix witnessed its global paid subscriber base in fourth-quarter 2022 increase 4% year over year to 230.75 million.
Netflix’s revenues increased 1.9% year over year in fourth-quarter 2022, owing to strong content. NFLX scooped six wins out of 16 nominations at the Oscars 2023.
For starters, All Quiet on the Western Front, starring Felix Kammerer, took home five awards with nine nominations, the most awards for a streamer to date.
To keep subscribers glued, it has planned an exciting content portfolio for 2023, including Luther: The Fallen Sun, Your Place or Mine, Murder Mystery 2 and Extraction 2.
Beside movies or series, Netflix started diversifying its portfolio with its mobile games range, with 40 games to be released this year and 70 games in the development phase.
Netflix Suffering From Stiff Competition
The streaming giant has been suffering from stiff competition from the likes of Disney DIS, Amazon AMZN and Warner Bros. Discovery WBD. These companies have followed the footsteps of Netflix to compete on a large scale.
Netflix launched its ad-supported tier in the United States on Nov 3 but failed to gain user Interest.
Consecutively, Disney, Amazon and Warner Bros. launched their low-cost ad-supported video-on-demand model on their platforms like Hulu, Amazon Freevee and HBO Max. This encouraged users to switch over to different platforms, taking away a significant market opportunity from Netflix.
Netflix shares have declined 21.5% in the past year, underperforming the Zacks Consumer & Discretionary sector's plunge of 20.5%.
However, NFLX shares have outperformed Disney, Amazon and Warner Bros shares, which have declined 31.1%, 39.6% and 45.5% in the past year, respectively.
Netflix expects to see accelerating revenue growth in 2023 by rolling out paid sharing model and scaling of lower-priced ad-supported plans. Its strong content and game portfolio shall help it win subscribers.
This Zacks Rank #2 (Buy) company expects first-quarter 2023 earnings of $2.82 per share. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for first-quarter revenues is pegged at $8.18 billion, indicating 3.92% growth from the year-ago quarter’s reported figure.
The consensus mark for first-quarter 2023 earnings is pegged at $2.81 per share, unchanged in the past 30 days.
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