So streaming giant Netflix (NFLX) has been hard at work of late building up its sports chops. The Christmas Day football games, the huge new presence in wrestling…it all adds up to a lot more streaming sports as Netflix’s various competitors try to fill in their own gaps. And Netflix just augmented its position a little more with the addition of women’s World Cup Soccer. Investors were pleased, and sent shares up nearly 1.5% in Friday afternoon’s trading.
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Netflix revealed that it now has the rights to stream the FIFA Women’s World Cup for both 2027 and 2031, noted a report from CNBC. But Netflix will not just be showing the soccer matches, oh no. The report also noted that its coverage will include “…commentary and entertainment from studio shows and top-tier talent,” as well as a set of documentaries involving soccer that will be aired before the games.
With 282.7 million memberships worldwide, it is little surprise that Netflix would take on a sport that was not just big in the United States. And this is also likely a move that will bring in fresh streamers eager to see the matches. It is also a fairly safe bet that some of them will stick around to see all of Netflix’s other content, which should give it a nice boost in numbers, if not for a while yet.
Ghostbusters Returns
Meanwhile, Netflix will also be teaming up with Sony (SONY) on a new Ghostbusters animated movie. A new animated series is already in development, noted a Deadline report, so a new animated movie besides could be a fine complement piece to release alongside it or into a mid-season gap.
Plot details are being kept quiet right now, but the report notes that Kris Pearn is already in on directing. Pearn’s earlier work includes Cloudy With a Chance of Meatballs 2 and Open Season, which does not exactly lend itself well to a cartoon about blasting ghosts. However, Ghostbusters has its roots in comedy, so as long as Pearn does not skimp on the action, some zany fun will fit in nicely, and this may turn out all right after all.
Is Netflix Stock a Good Buy Right Now?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on NFLX stock based on 24 Buys, 10 Holds and two Sells assigned in the past three months, as indicated by the graphic below. After a 86.41% rally in its share price over the past year, the average NFLX price target of $839.55 per share implies 8.19% downside risk.
