Netflix NFLX recently announced a set of tools aimed at providing more control in parents’ hands to monitor the content their kids should watch.
The company now allows parents to filter content as well as remove series or films separately by title, which they consider inappropriate for their kids’ viewing. In-built country ratings will make this parental task even easier.
Netflix is also offering PIN protect tool to secure individual profiles so that kids couldn’t access the same. Parents can also keep tabs on content that kids are watching within their assigned profiles and turn-off auto play of episodes.
Kids Devoting More Time to Digital Feed
The improved parental control feature is important because kids became major consumers of streaming content.
Moreover, as they are compelled to stay at home due to shutdown of their schools following the coronavirus (COVID-19) outbreak, streaming platform usage sees a huge jump.
Understandably, lockdowns, quarantines and social distancing related to COVID-19 deprived kids of outdoor activities and hence, they have been consuming more digital content, which significantly saw a boom in streaming services like Netflix. The streaming giant is currently the best performing stock among the FAANG group with shares having rallied 15% year to date.
Per data from analytics firms Apptopia and Braze, cited by a Reuters report, Alphabet’s GOOGL YouTube Kids service grab the #1 spot in terms of hours spent, trailed by Netflix and YouTube.
Netflix boasts a solid library of kid-specific content and is also investing in originals as well as licensing shows from the likes of Nickelodeon. This is further expected to attract children and family-show audience to streaming platforms in the long haul.
Netflix Leads in Streaming Service Amid COVID-19 Chaos
Netflix is ahead in the streaming race despite increased competition from the launch of new services like Disney+ from Disney DIS and Apple TV+ from Apple AAPL and existing services like Amazon prime video.
Courtesy of its diversified content portfolio, which is attributable to its heavy investments in the production and distribution of localized, foreign-language content and an expanding international footprint, Netflix is hugely benefiting from coronavirus-led physical distancing and lockdowns.
Notably, this Zacks Rank #2 (Buy) stock’s paid subscriber base rose 20% year over year to 167.09 million in 2019. Netflix expects to hit 174.09 million paid subscribers globally in the first quarter of 2020. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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