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Netflix (NFLX) Expands Family Content With Spy Kids Reboot
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Netflix (NFLX - Free Report) is expanding its content for family viewers in order to sustain competitive prowess. The company recently inked a deal with Skydance to produce a reimagining of the successful 2001 Spy Kids franchise.
Markedly, Spyglass owns the Spy Kids franchise. Spyglass' Gary Barber and Peter Oillataguerre will be the executive producers. Robert Rodriguez, director of the original film and the sequels, will direct the spinoff about a new family of spies.
Netflix is looking to gain more of its users’ time amid stiff competition from the likes of TikTok, as well as from streaming services provided by Disney (DIS - Free Report) , Apple (AAPL - Free Report) and Comcast (CMCSA - Free Report) . The streaming giant is looking to up the ante with a solid content portfolio, which is expected to keep its user base engaged.
Apart from the new Spy Kids spinoff, Netflix is expected to bring a plethora of family-oriented content in the near term. The slate includes Rodriguez’s We Can Be Heroes, besides YES DAY, Slumberland, Enola Holmes 2, and The School for Good Evil.
In the year-to-date period, Netflix’s shares have tumbled 36.7% compared with the Zacks Broadcast Radio and Television industry’s and the Zacks Consumer Discretionary sector’s declines of 21.3% and 10.3%, respectively.
First-quarter 2022 subscriber addition rate is expected to remain muted due to the lack of content, stiff competition and macro-economic impact of COVID-19 in several parts of the world.
Netflix expects first-quarter 2022 paid net additions to be 2.5 million compared with the year-ago quarter’s 3.98 million. The company expects to end the first quarter of 2022 with 224.34 million paid subscribers globally, indicating growth of 8% from the year-ago quarter.
Netflix’s closest competitor, Disney, benefits from the growing popularity of Disney+, owing to a strong content portfolio and a cheaper bundle offering.
The service offers nearly 700 movies and 11,700 episodes of television shows from brands such as Disney, Pixar, Marvel, Star Wars, National Geographic and Disney+ originals.
Disney is also expanding into international markets. Disney+, as of Jan 1, 2022, had 129.8 million paid subscribers compared with 94.9 million as of Jan 2, 2021. Excluding Disney+ Hotstar, Disney added 5.1 million paid subscribers, primarily driven by growth in its Asia Pacific and European markets. Disney+’s launch in South Korea, Taiwan, and Hong Kong helped drive user base growth.
Meanwhile, Comcast’s Peacock had 24.5 million monthly active accounts in the United States at the end 2021. Comcast is focused on expanding Peacock’s streaming content portfolio and has pulled in shows like The Office from Netflix. Moreover, original content from the likes of WWE and the NFL is expected to aid subscriber growth for Peacock’s premium service.
Apple’s streaming service, Apple TV+, is gaining recognition, with Ted Lasso winning multiple Emmy Awards and, most recently, CODA winning three Academy Awards. This is expected to boost Apple TV+’s viewership.
Nevertheless, Netflix’s diversified content portfolio, attributable to heavy investments in the production and distribution of localized, foreign-language content, is a key catalyst.
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Netflix (NFLX) Expands Family Content With Spy Kids Reboot
Netflix (NFLX - Free Report) is expanding its content for family viewers in order to sustain competitive prowess. The company recently inked a deal with Skydance to produce a reimagining of the successful 2001 Spy Kids franchise.
Markedly, Spyglass owns the Spy Kids franchise. Spyglass' Gary Barber and Peter Oillataguerre will be the executive producers. Robert Rodriguez, director of the original film and the sequels, will direct the spinoff about a new family of spies.
Netflix is looking to gain more of its users’ time amid stiff competition from the likes of TikTok, as well as from streaming services provided by Disney (DIS - Free Report) , Apple (AAPL - Free Report) and Comcast (CMCSA - Free Report) . The streaming giant is looking to up the ante with a solid content portfolio, which is expected to keep its user base engaged.
Apart from the new Spy Kids spinoff, Netflix is expected to bring a plethora of family-oriented content in the near term. The slate includes Rodriguez’s We Can Be Heroes, besides YES DAY, Slumberland, Enola Holmes 2, and The School for Good Evil.
Netflix, Inc. Price and Consensus
Netflix, Inc. price-consensus-chart | Netflix, Inc. Quote
Netflix Suffering From Stiff Competition
In the year-to-date period, Netflix’s shares have tumbled 36.7% compared with the Zacks Broadcast Radio and Television industry’s and the Zacks Consumer Discretionary sector’s declines of 21.3% and 10.3%, respectively.
This Zacks Rank #3 (Hold) company’s underperformance is primarily attributed to stiff competition in the streaming space. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
First-quarter 2022 subscriber addition rate is expected to remain muted due to the lack of content, stiff competition and macro-economic impact of COVID-19 in several parts of the world.
Netflix expects first-quarter 2022 paid net additions to be 2.5 million compared with the year-ago quarter’s 3.98 million. The company expects to end the first quarter of 2022 with 224.34 million paid subscribers globally, indicating growth of 8% from the year-ago quarter.
Netflix’s closest competitor, Disney, benefits from the growing popularity of Disney+, owing to a strong content portfolio and a cheaper bundle offering.
The service offers nearly 700 movies and 11,700 episodes of television shows from brands such as Disney, Pixar, Marvel, Star Wars, National Geographic and Disney+ originals.
Disney is also expanding into international markets. Disney+, as of Jan 1, 2022, had 129.8 million paid subscribers compared with 94.9 million as of Jan 2, 2021. Excluding Disney+ Hotstar, Disney added 5.1 million paid subscribers, primarily driven by growth in its Asia Pacific and European markets. Disney+’s launch in South Korea, Taiwan, and Hong Kong helped drive user base growth.
Meanwhile, Comcast’s Peacock had 24.5 million monthly active accounts in the United States at the end 2021. Comcast is focused on expanding Peacock’s streaming content portfolio and has pulled in shows like The Office from Netflix. Moreover, original content from the likes of WWE and the NFL is expected to aid subscriber growth for Peacock’s premium service.
Apple’s streaming service, Apple TV+, is gaining recognition, with Ted Lasso winning multiple Emmy Awards and, most recently, CODA winning three Academy Awards. This is expected to boost Apple TV+’s viewership.
Nevertheless, Netflix’s diversified content portfolio, attributable to heavy investments in the production and distribution of localized, foreign-language content, is a key catalyst.