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Netflix (NFLX) & Higher Grounds' Partner to Aid Bright Prospects

Netflix NFLX announced that it has renewed its partnership with Higher Ground, the media company founded by President Barack Obama and Michelle Obama. This is expected to significantly bolster Netflix's prospects by attracting substantial viewership and critical acclaim.

Higher Ground has a strong track record of producing high-quality and impactful content. Per the agreement, Higher Ground will have a multi-year, first-look deal with Netflix for all its exclusive innovative projects. The success of recent content, such as the critically acclaimed film Leave the World Behind and the crime drama series Bodkin, underscores the potential for future projects.

Higher Ground's recent achievements with Netflix highlight the company's ability to produce content that resonates widely with audiences. Leave the World Behind, directed by Sam Esmail, rapidly climbed NFLX's Most Popular Films List, amassing 121 million views in just three weeks and becoming the top-viewed content in the latter half of 2023. The success of Bodkin, which maintained a position on the Netflix Global Top 10 list for three weeks, further exemplifies the broad appeal and engagement of Higher Ground's productions.

Looking ahead, Higher Ground has an array of exciting projects in development, which will exclusively premiere on Netflix. These include the adaptation of S.A. Cosby’s crime thriller, All the Sinners Bleed, the family drama called Hello, Beautiful and the Chicago-set crime thriller, Dyersville. Additionally, the film adaptation of Frederick Douglass: Prophet of Freedom, directed by Regina King, and the romantic comedy called Fling, produced by and starring Lupita Nyong'o, are highly anticipated.

Shares of this Zacks Rank #1 (Strong Buy) company have gained 37.5% year to date against the Zacks Consumer Discretionary sector’s decline of 3.2%. The remarkable achievement can be attributed to the success of its original content. You can see the complete list of today’s Zacks #1 Rank stocks here.

Netflix, Inc. Price and Consensus

Netflix, Inc. Price and Consensus
Netflix, Inc. Price and Consensus

Netflix, Inc. price-consensus-chart | Netflix, Inc. Quote

NFLX’s Upcoming Content to Boost Streaming Revenues

Netflix is well-known for delivering high-quality content. Building on its latest partnership with Higher Ground, NFLX plans to unveil a substantial lineup of new shows and movies throughout the rest of 2024 to maintain viewer enthusiasm and boost streaming revenues.

The Zacks Consensus Estimate for NFLX's 2024 streaming revenues is pegged at $39.04 billion, indicating 15% growth from the year-ago levels. The consensus mark for earnings is pegged at $18.31 per share, indicating 52.2% growth from the year-earlier actuals.

Upcoming content from the company includes movies, series and regional content. Movies include Trigger Warning, Colors of Evil: Red and A Part of You. Highly anticipated series are Owning Manhattan, Savage Beauty: Season 2, The Mole: Season 2, Alone: Season 10 and many more.

Regional content has been increasingly popular in the Japanese and Korean market. Upcoming Korean content from the company includes titles like You Have Done Well, Hong Rang and Agents of Mystery. Upcoming Japanese content from Netflix includes Mystery, Doctor Climax and Hierarchy.

NFLX faces tough competition in the streaming space from Amazon AMZN, Disney DIS and Warner Bros. Discovery WBD.

Netflix, Amazon, and Disney are among the leading companies in the global streaming industry. According to a report by Digital Trends, Netflix boasts 269.6 million global paid members, followed by Amazon Prime with more than 200 million, Disney+ with 153.6 million and WBD with 99.6 million.

To compete with these giants, Netflix has consistently invested in content. The company ensures unparalleled accessibility across a wide range of devices, such as smart TVs, game consoles, smartphones and tablets, which helps maintain its competitive edge in the market.

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