Key Takeaways
- Media executives believe Netflix wants more live events like sports, but don't think it will look to make large commitments to the space, according to a JPMorgan note.
- "Netflix wants the Super Bowl but not an NFL package," an executive told JPMorgan analysts.
- Netflix executives have made similar comments in recent quarters, saying their priority is "can't-miss, special event programming."
Netflix (NFLX) is looking to add more live events that could drive subscriptions—but not too many—according to media executives who recently met with JPMorgan analysts.
The analysts said the executives agree Netflix "is interested in more big events or stunts," such last year's 澳洲幸运5官方开奖结果体彩网:Jake Paul-Mike Tyson fight and Tom Brady roast. "In theory this could translate to demand for sports rights; however, there was less consensus on th🌸is point and what the ultimate strategy is; 'Netflix wants the Super Bowl but not an NFL package' was how one executive framed it."
Netflix executives have made similar 澳洲幸运5官方开奖结果体彩网:comments in recent quarters, saying their priority💟 is "can't-miss, special event programming."
Analysts Say Execs Suggested F1 Racing𒐪 as Potenti♎al Deal
Some executives said the streamer's 澳洲幸运5官方开奖结果体彩网:reported interest in bidding on the rights to air Formula 1 racing —once the deal held by Disney's (DIS) ESPN ends after the current𝄹 season—could also be a fit. Broadcasting the racing would make sense as Netflix played a role in the sport's growing U.S. popularity with its "Drive to Survive" docuseries, t🌊he analysts said.
A 澳洲幸运5官方开奖结果体彩网:number of streaming services have made 澳洲幸运5官方开奖结果体彩网:growing moves into sports in recent years, hoping the reliable audience for 澳洲幸运5官方开奖结果体彩网:live sporting events could help bring new subscribers to their platforms. Netflix broadcast its first 澳洲幸运5官方开奖结果体彩网:NFL games on Christmas, which featured a halftime 澳洲幸运5官方开奖结果体彩网:performance from Beyoncé.
Additionally, the analysts said "some industry experts noted that buyers, including Netflix, were exhibiting greater discipline on costs and budgets relative to a few years prior, with exceptions for the most premium and sought-after shows."
Shares of the streaming giant recently were down 1.5% to $962.48. Although off their record close of $1,0💃58.60 on Feb. 14, they are up nearly 60% over the last year.