Yahoo Finance Netflix (NFLX) Releases Its Korean Action Film Kill Boksoon
Netflix NFLX recently announced the release of Kill Boksoon, globally on Mar 31.
Kill Boksoon is a South Korean crime action film narrating the life of a working mother, Gil Boksoon, who gets second thoughts about continuing as a hitwoman and gets trapped in a kill-or-get-killed situation. The movie climaxes with a grand finale fight and a dramatic twist.
Jeon Do-yeon plays the female lead alongside Kim Si-A, who portrays her daughter and Sul Kyung-gu as the chairman of the hitman agency MK Ent.
The movie was directed by Byun Sung-hyun, inspired by Jeon’s real-life personal conversations with her 14-year-old daughter. Byun is known for his work in movies like Kingmaker and The Merciless.
Netflix, Inc. Price and Consensus
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The film’s vivid characters showcase universal values like personal growth and the importance of family, which audiences will find relatable. It was invited to the prestigious Berlin International Film Festival and marked Jeon’s first full-fledged action film.
Netflix’s Strong Content Portfolio to Aid Prospect
Netflix made progress in adding multilinguistic content streaming in over 190 countries, supporting 20 languages.
It continues to produce original content by joining regional creators, writers, cast and production teams, reflecting its values toward diverse cultures, thus catering to a wider demographic.
Netflix is expected to continue dominating the streaming space with its diversified content portfolio and its customer-centric focus, which encompasses huge investments in the production and distribution of localized, foreign-language content.
Netflix’s success can be attributed to its strong emphasis on dubbing and subtitling their content to appeal to the diverse cultures and languages of the markets they are expanding. This makes a wider audience feel more connected to their content, encouraging them to continue using their services.
Apart from the United States and Canada, Netflix added around 6.76 million paid subscribers from the rest of the world, constituting nearly 88% of the global net additions in the fourth quarter of 2022.
Its global paid subscriber base in fourth-quarter 2022 increased by 4% year over year to 230.75 million.
Netflix’s revenues increased 1.9% year over year in fourth-quarter 2022 thanks to strong diversification in its content.
Besides movies or series, Netflix started diversifying its portfolio with its mobile games range, with a stack of more than 50 games spanning across genres. Acquiring four game studios is expected to bolster its internal production capabilities.
Netflix Suffering from Stiff Competition
The streaming space has become saturated with service offerings from major media conglomerates. Netflix has established its place in the streaming market, but the opportunity for further growth is minuscule.
Netflix has been suffering from stiff competition from the likes of Disney DIS, Amazon AMZN and Paramount Global PARA. These companies have followed the footsteps of Netflix to compete on a large scale.
Netflix launched its low cost ad-supported video-on-demand model in the United States on Nov 3 but failed to gain user Interest.
Disney, Amazon and Paramount followed its footstep and launched ad-supported tiers on their platforms. This provided users with multiple affordable platforms, taking away a significant market opportunity from Netflix.
Netflix shares have declined 11.7% in the past year, outperforming the Zacks Consumer & Discretionary sector, which plunged 18.1% over the same time frame.
NFLX shares even have outperformed Disney, Amazon and Paramount, shares of which have declined 27.7%, 38.6% and 40.8% in the past year, respectively.
Netflix expects to see accelerating revenue growth in 2023 through rolling out paid sharing model and improvements in its newly launched ad delivery service. Its strong content and games portfolio shall help it win new subscribers.
This Zacks Rank #2 (Buy) company expects first-quarter 2023 earnings of around $2.82 per share. You can see the complete list of today’s Zacks #1 Rank stocks here.
For the first quarter of 2023, Netflix expects revenues to increase 3.9% year-over-year to around $8.17 billion.
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.
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