Netflix (NFLX) is dipping its toe into live sports. The streaming giant will broadcast the boxing match between social media influencer Jake Paul and former heavyweight champion Mike Tyson live on Friday night. Millions are likely to tune in, could more live sports be a catalyst for growth at Netflix? Yahoo Finance's Brad Smith and Seana Smith speak with Michael Pachter, Wedbush Securities managing director of equity research, about Netflix's future in live programming. "What broadcast does for Netflix is it allows them to advertise," Pachter says. He mentions that one open question he has for Netflix is whether the company will advertise on the rebroadcast of a live program once it's archived, which, Pachter says, is an opportunity for Netflix to make even more money. But not all that glitters is gold. Pachter says that Netflix shouldn't go all in on live sports, telling Yahoo Finance, "They shouldn't bid for Thursday Night Football or Sunday football. I mean, that's just something that cost them billions of dollars." Things like the deal Netflix made with WWE to broadcast RAW and Smackdown, on the other hand, Pachter says, are "pretty smart." For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Cheyenne Reid Read More...
Netflix (NFLX) is dipping its toe into live sports. The streaming giant will broadcast the boxing match between social media influencer Jake Paul and former heavyweight champion Mike Tyson live on Friday night. Millions are likely to tune in, could more live sports be a catalyst for growth at Netflix?
Yahoo Finance’s Brad Smith and Seana Smith speak with Michael Pachter, Wedbush Securities managing director of equity research, about Netflix’s future in live programming.
“What broadcast does for Netflix is it allows them to advertise,” Pachter says. He mentions that one open question he has for Netflix is whether the company will advertise on the rebroadcast of a live program once it’s archived, which, Pachter says, is an opportunity for Netflix to make even more money.
But not all that glitters is gold. Pachter says that Netflix shouldn’t go all in on live sports, telling Yahoo Finance, “They shouldn’t bid for Thursday Night Football or Sunday football. I mean, that’s just something that cost them billions of dollars.” Things like the deal Netflix made with WWE to broadcast RAW and Smackdown, on the other hand, Pachter says, are “pretty smart.”
For more expert insight and the latest market action, click here to watch this full episode of Catalysts.
This post was written by Cheyenne Reid
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