Yahoo Finance Netflix (NFLX) Releases the Trailer of Elites' Final Season
Netflix NFLX recently released the trailer for the final season of Elite, which is set to premiere globally on Jul 26. With just three weeks remaining until the conclusion of this iconic series, which has captivated international audiences since its debut in 2019, anticipation is building for the season finale.
The eighth season, created by Carlos Montero and Jaime Vaca, features a diverse cast that includes Omar Ayuso, André Lamoglia, Valentina Zenere, Mirela Bali??, Gleb Abrosimov, Fernando Líndez, Nadia Al Saidi, Ander Puig, Carmen Arrufat, Mina el Hammani, Iván Mendes and Maribel Verdú. Additionally, the season introduces new talents, such as Ane Rot, Nuno Gallego, Alexandra Pino and Mario Ermito, among others.
This Zacks Rank #3 (Hold) company has also announced the release of several upcoming Spanish content. NFLX recently unveiled the trailer of LALIGA: All Access, the first sports docuseries in Spain. Additionally, Breathless, Netflix's first hospital drama in Spain, created by Carlos Montero and starring Najwa Nimri and Blanca Suárez, will premiere on Aug 30. The company is also adapting Fernando Aramburu's novel, El niño, into a film directed by Mariano Barroso. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Year-to-date Performance
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NFLX’s Upcoming Content to Aid Streaming Revenues
Netflix is looking to expand more regional content in countries like Spain, Indonesia, Thailand and the Philippines. This is expected to expand the company’s reach as well as aid streaming revenues in the upcoming quarters.
The Zacks Consensus Estimate for NFLX's 2024 streaming revenues is pegged at $39.04 billion, indicating 16% year-over-year growth.
In Indonesia, Netflix is diversifying its original content with a variety of genres. The upcoming film, Abadi Nan Jaya, is set to premiere in 2025 and follows a dysfunctional family navigating a zombie apocalypse within their traditional herbal medicine business. Additionally, Borderless Fog, a crime thriller set along the Indonesia-Malaysia border, is directed by Edwin and expected to premiere soon.
Netflix’s upcoming content in the Thai language includes Doctor Climax, which is set in the late '70s and explores taboo topics through the life of a skin doctor who becomes a sex columnist. Tomorrow and I, a sci-fi anthology series, delves into the future intersection of technology and Thai culture and will premiere in the current year. Netflix is set to release 10 titles in Thai in the rest of 2024.
In the Philippines, NFLX is set to release Outside, a psychological thriller directed by Carlo Ledesma, on Oct 11, 2024. The local content strategy aims to move beyond licensed titles to invest more in original productions, reflecting a commitment to expanding the variety and depth of stories from the region.
However, Netflix faces tough competition in the streaming space from Amazon AMZN, Disney DIS and Paramount Global PARA.
Netflix has gained 40.2% year to date against the Zacks Consumer Discretionary sector’s decline of 1.7%. NFLX also outperformed AMZN and DIS’ rise of 30% and 9.2%, respectively, and PARA’s decline of 22.5%.
Conclusion
Netflix’s expanding regional content is a major positive, which expands reach and compliments the long-term growth of the company. However, competition in the streaming industry remains a concern.
Additionally, partnerships with major telcos worldwide are expected to enhance its international subscriber base, driving sustainable growth.
The Zacks Consensus Estimate for NFLX’s second-quarter 2024 earnings per share is pegged at $4.7, which has increased 1 cent in the past 60 days. The consensus mark for 2024 earnings is pegged at $18.31 per share, which has increased 1 cent in the past 60 days.
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