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Netflix's (NFLX) Bridgerton Hits the Right Chord With Viewers

Zacks Equity Research
·3 min read

Netflix NFLX show Bridgerton is expected to be viewed by 63 million households within 28 days of its Dec 25 debut, making it the streaming giant’s fourth largest original series of all time, per a Variety report.

Markedly, The Witcher is Netflix’s all-time most viewed shows followed by La Casa de Papel and Tiger King. Meanwhile, Bridgerton has already grabbed the #1spot on Netflix’s top 10 rankings in 76 countries. The series produced by Shonda Rhimes has received 92% approval ratings on Rotten Tomatoes and a score of 7.4 out of 10, per IMDb.

Moreover, Netflix announced that December 2020 was the best month in its history in terms of total hours viewed and average hours viewed per subscriber. Moreover, the week of Dec 25-31 was a record for the company in terms of total hours viewed and average hours viewed per subscriber.

Undoubtedly, Netflix has benefited from the coronavirus-induced lockdowns and shelter-in-home guidelines this Christmas season. Apart from Bridgerton, We Can Be Heroes also garnered significant viewership. The movie is expected to reach 44 million households within four weeks of its availability.

Can Original Content Help Netflix Maintain its Momentum in 2021?

Netflix’s shares have returned 58.1% year to date, outperforming the Zacks Broadcast Radio and Television industry’s rally of 28.1%. The outperformance can be attributed to strong popularity of Netflix’s original content portfolio that has helped it to attract subscribers.
 

Netflix, Inc. Price, Consensus and EPS Surprise

 

Netflix, Inc. Price, Consensus and EPS Surprise
Netflix, Inc. Price, Consensus and EPS Surprise

Netflix, Inc. price-consensus-eps-surprise-chart | Netflix, Inc. Quote

At the end of the third quarter, Netflix had 195.15 million paid subscribers globally, up 23.3% from the year-ago quarter. The company now expects paid net additions to be 6 million compared with the year-ago quarter’s 8.8 million. This means Netflix will add 34 million paid net additions in 2020, much better than the historical high of 28.6 million it achieved in 2018.

Higher number of originals is expected to further aid this Zacks Rank #3 (Hold) company’s user base growth in 2021. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Moreover, heavy investments in the production and distribution of localized, foreign-language content and an expanding international footprint has led Netflix to dominate the streaming space despite the launch of services like Disney+ from Disney DIS, Apple TV+ from Apple AAPL, NBCUniversal’s Peacock and AT&T’s HBO Max as well as existing services like Amazon AMZN prime video.

Additionally, robust regional-language content portfolio has helped Netflix improve its competitive position in APAC, Europe, Middle East & Africa (EMEA) and Latin America (LATAM).

Notably, APAC revenues surged 66.2% year over year to $635 million in third-quarter 2020. Moreover, revenues from EMEA and LATAM increased 41.4% and 6.5% to $2.02 billion and $789 million, respectively.

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