Netflix (NFLX) Wins Big at Emmy Awards 2018, Equals HBO
Netflix NFLX tied with HBO, winning the same number of awards at the Emmys 2018. These wins further solidify its presence in the broadcast television and radio industry. The companies won 23 trophies each in different categories.
Notably, Netflix’s shows have been rapidly gaining popularity as it received 112 nominations in 2018 from 91 in 2017 and 54 in 2016. With the same number of wins as HBO, a prominent name in the entertainment industry, at the prestigious Emmy Awards, the company has set a new record for itself. This will further boost investor confidence and drive its stock price.
The company has gained 91.1% year to date compared with 32.2% surge of the industry.
Netflix’s Growing Popularity
Netflix has enhanced its focus on original content, which has benefited the company immensely. It adds new talent regularly.
Over the past few months, the company has appointed prominent names like Matt Groening of The Simpsons fame, Black-ish creator Kenya Barris as well as Ant-Man fame Paul Rudd.
The company has also made several changes in its management structure recently. It appointed Christie Fleischer, a former Walt Disney DIS executive.
Netflix also announced that it has hired Rachel Whetstone as its new Chief Communications Officer. Whetstone, who replaced Jonathan Friedland, is currently a Facebook FB executive and is expected to join the streaming giant from November this year.
The company has been progressing really well in India, South Korea and Philippines among others.
The online video market in India is anticipated to touch $2.4 billion by 2023, per research firm Media Partners Asia. This Zacks Rank #3 (Hold) stock is increasingly investing in original regional programming to attract the huge user base, which will eventually prove beneficial for its financials.
Key Pick
A top-ranked stock in the broader technology sector is NetApp, Inc. NTAP, sporting a Zacks Rank #1 (Strong Buy).
You can see the complete list of today’s Zacks #1 Rank stocks here.
The long-term earnings growth rate for NetApp is pegged at 14.1%.
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