Netflix (NFLX) Boosts Content Streaming With Anime Series
Netflix NFLX unveiled its upcoming lineup of anime series at Anime Japan 2023.
The lineup includes Ooku: The Inner Chambers, which will be the first anime adaptation of Fumi Yoshinaga's manga.
Netflix’s other anime series to be released in 2023 include Yakitori: Soldiers of Misfortune, as well as Onmyoji, an anime series based on the world of Baku Yumemakura’s popular tales about the ancient yin-yang diviner Abe Seimei.
The company shared teaser art by original creator Naoki Urasawa for PLUTO, offering a glimpse into the show’s characters and the world.
Netflix, Inc. Price and Consensus
Netflix, Inc. price-consensus-chart | Netflix, Inc. Quote
Strengthening Content Portfolio to Aid Prospects
Netflix’s strong and diverse content portfolio has been a major growth driver in recent times
Netflix gained 7.66 million paid subscribers globally, higher than its estimate of 4.5 million users in the fourth quarter of 2022. Hits like Wednesday, Harry & Meghan, Troll, and Glass Onion: A Knives Out Mystery helped Netflix win subscribers.
Netflix’s global paid subscriber base stands at 230.75 million at the end of the fourth quarter, which increased 4% year over year.
Netflix’s strong content is helping it win accolades. It scooped six wins out of 16 nominations at the Oscars 2023.
Apart from movies and shows, Netflix has started diversifying its portfolio with mobile games. It expects to launch 40 games this year and 70 games are in the development phase.
Netflix Suffers 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 in the footsteps of Netflix to compete on a large scale.
Netflix recently launched its ad-supported tier in the United States 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.
Netflix shares have fallen 16.3.% in the past year, underperforming the Zacks Broadcast Radio and Television industry’s and the Zacks Consumer Discretionary sector’s declines of 32.1.% and 24.2%, respectively.
However, NFLX shares have outperformed Disney, Amazon and Warner Bros., which have lost 32.2%, 41.9% and 45.2% in the past year, respectively.
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 3.9% growth from the year-ago quarter’s reported figure.
The consensus mark for first-quarter 2023 earnings is pegged at $2.81 per share, which declined 20.4% from the year-ago quarter reported figure.
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