On December 25, 2024, Netflix (NFLX) streamed two NFL (National Football League) games back-to-back, setting a new record for sports streaming. According to preliminary Nielsen data, the games collectively attracted nearly 65 million U.S. viewers, with each game averaging over 24 million, marking the highest numbers ever recorded for NFL games streamed online.
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During the broadcast, one of the most memorable moments was Beyoncé’s halftime performance in the game between the Baltimore Ravens and the Houston Texans. This segment drew a peak audience of 27 million live viewers, reflecting the strong appeal of combining sports and entertainment.
Preparing for Future Streams
Despite past problems with live streaming, Netflix’s broadcast went smoothly with no major issues. This successful event shows that Netflix is now a strong player in live sports broadcasting. Looking ahead, Netflix plans to stream more events, including WWE Raw starting in January 2025, as part of a 10-year deal.
Challenging the NBA’s Viewership
The NFL’s Christmas Day games had far more viewers than the NBA’s (National Basketball Association) holiday games, which averaged 5.25 million viewers per game. While this was the NBA’s best Christmas Day viewership in five years, it was still overshadowed by the NFL’s strong performance on Netflix. This shows that more sports fans are choosing streaming platforms to watch live games.
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 87.9% rally in its share price over the past year, the average NFLX price target of $839.55 per share implies 9.15% downside risk.
