Yahoo Finance Netflix (NFLX) Announces Adaption of Fernando Aramburu's El nino
Netflix NFLX has revealed plans to adapt Fernando Aramburu's latest novel, El niño, into a film. The project will be written and directed by acclaimed filmmaker Mariano Barroso, who is known for his work on La línea invisible and Los Farad. Barroso will also produce the film alongside Rafa Portela, signaling a continued partnership between the director and Netflix.
The adaptation of El niño promises to bring a poignant piece of Spanish history to the screen. The novel, published by Tusquets Editores, centers on the tragic gas explosion at a school in Ortuella, Basque Country, in October 1980. This devastating event, which claimed the lives of numerous children, serves as the backdrop for a deeply emotional narrative exploring the long-lasting impact of trauma on individuals and communities.
Aramburu, one of Spain's most respected contemporary authors, expressed his satisfaction with the adaptation, stating that the Ortuella accident had resonated with him for years. The story is part of Aramburu's Gentes vascas series, which aims to chronicle various aspects of Basque life and history.
The film will focus on Nicasio, an octogenarian who makes weekly pilgrimages to the Ortuella cemetery to visit his grandson's grave. Through Nicasio's journey, viewers will witness how the tragedy altered the lives of his family and others in the community.
This project marks another significant investment by Netflix in Spanish-language content, further solidifying its commitment to diverse storytelling and international productions. The adaptation of El niño is poised to offer viewers a poignant reflection on memory, loss and the enduring impact of historical events on individual lives and collective consciousness.
As production details and release dates are yet to be announced, anticipation builds for this cinematic exploration of a tragic chapter in Spanish history.
Year-to-date Performance
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Netflix Expands Content Portfolio to Boost Growth Prospects
Netflix, the leading streaming platform, is ramping up its content production to maintain its market dominance and drive revenue growth in the coming quarters. This Zacks Rank #3 (Hold) company's strategy involves expanding its production hubs and diversifying its content across various genres, aiming to cater to a wide range of viewer preferences. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for the company's 2024 revenues is pegged at $38.75 billion, implying a significant 14.91% year-over-year increase. The consensus mark for 2024 earnings is pegged at $18.31 per share, which has increased 18 cents in the past 60 days.
To achieve these ambitious targets, Netflix is unveiling an impressive lineup of new and returning series. Popular shows like America's Sweethearts: Dallas Cowboys Cheerleaders and That '90s Show are set to return with new seasons, while The Mole introduces its second season with a thrilling competitive format.
On the film front, the highly anticipated Beverly Hills Cop - Axel F sees Eddie Murphy reprising his iconic role, promising to draw in both nostalgic viewers and new audiences.
Netflix is also expanding its offerings in documentaries, gaming and animated series. Notable releases include Skywalkers: A Love Story and Mountain Queen: The Summits of Lhakpa Sherpa in the documentary category, while Exploding Kittens and Terminator Zero represent the company's push into gaming adaptations and animated re-imaginings of classic franchises.
Despite its strong position, Netflix faces intense competition in the streaming market. Rivals, such as Amazon AMZN-owned Amazon Prime Video, Disney DIS-owned Disney+ and Paramount Global PARA-owned Paramount+ are continually expanding their own content libraries and user bases.
Currently, Netflix leads with a 24% market share, followed by Amazon Prime Video with 23%, DIS’ Disney+ with 18% and PARA’s Paramount+ with 8%, according to a report by CULT MTL.
To sustain its competitive edge, Netflix is focusing on international markets, producing regional content in countries like India, Mexico, Spain, Italy, Germany, Brazil, France, Turkey and the Middle East. This strategy not only helps in retaining existing subscribers but also attracts new ones in these growing markets.
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