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Investor's Crypto Daily > Blog > Headlines > Financial Market News > Netflix shares set to increase as live events strategy gain momentum with Jake Paul and Mike Tyson fight
Financial Market News

Netflix shares set to increase as live events strategy gain momentum with Jake Paul and Mike Tyson fight

Last updated: November 21, 2024 7:49 pm
By Shelly Davidson 4 Min Read
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Netflix’s bold decision to broadcast live events is making waves within the streaming industry, as evidenced by its record-breaking viewing of the Jake Paul vs. Mike Tyson Boxing Match.

Contents
Record-breaking live event viewershipAnalysts raise Netflix’s stock price targetAdvertising revenue to be driven by live eventsNetflix stock surge

Analysts have raised Netflix’s target stock price by $1000, or 13%.

Netflix is expanding its live content portfolio to include major sporting events such as NFL games, and halftime shows featuring Beyonce. The company wants to be the leader in both entertainment and advertising.

Record-breaking live event viewership

A much-anticipated match between boxing legend Mike Tyson and YouTuber Jake Paul attracted an astounding 108,000,000 live viewers. This set a streaming record.

Netflix was able to reach 60 million homes worldwide despite some technical issues.

The success of the live broadcast event is hailed by experts as an indication that Netflix has great potential in this area.

Analysts raise Netflix’s stock price target

Bank of America analysts increased Netflix’s target stock price from $800 up to $1,000 following the victory of the fight. This reflects an increase in confidence about the live event strategy of the company.

The adjustment is a 13 percent increase over its current $888 value.

Live programming has attracted advertisers who want to reach highly-engaged viewers.

Netflix could increase its revenues by integrating live sports events in their programming, according to experts.

Advertising revenue to be driven by live events

Netflix’s move into live events isn’t just about increasing its audience, but it also aims to boost the advertising potential of the company. Live broadcasts provide prime advertising inventory and allow brands to reach a large audience in real-time.

Netflix will continue to broadcast high-profile live events. The advertising potential is likely to grow. This could turn the streaming of these events into a significant revenue generator.

Netflix will continue to be successful in the space with upcoming broadcasts including two NFL matches on Christmas Day, and Beyonce’s halftime show.

Netflix has a live event strategy that goes far beyond sports. The company secured a 10-year deal with WWE Raw in the beginning of 2025.

The long-term agreement is an important step for Netflix in its broader strategy of diversifying content while managing costs.

Experts say that while the increasing price of media rights for sports is concerning, this is part of Netflix’s effort to reach a broader demographic and attract new advertisers.

Netflix stock surge

Netflix stock is up 90% in the past year, thanks to strong earnings and a positive outlook.

Stocks of this company have reached record levels due to its ability to stay innovative and ahead of competitors.

Analysts believe that as Netflix grows its live-programming portfolio, it will solidify its place in the streaming industry.

Netflix will be able to demonstrate its streaming capabilities at upcoming events such as the NFL and Beyonce’s halftime performance. It hopes that this will attract more partners in sports and entertainment.

Netflix’s focus on global scaleability and premium content, as well as its refinement of its live broadcasting strategy will allow it to redefine the streaming landscape.

Netflix could be further established as an important player both in entertainment and advertising if these live broadcasts are successful.

The post Netflix Stock Set to Rise as Live Event Strategy Gains Momentum with Jake Paul vs Mike Tyson Fight may be updated as new developments unfold.

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