15 Jul Less Original Content Isn’t Slowing Streaming Penetration: Report [Next TV]
BY JON LAFAYETTE
July 15, 2024 | Streaming penetration increased in the second quarter despite services pulling back on original content, according to a new report from MoffettNathanson media analyst Michael Nathanson.
In his All Things Streaming update, Nathanson said Netflix’s efforts to crack down on password-sharing appear to be paying off, and that he is raising his forecast for how many subscribers the platrform added for the quarter by 500,000 to 5.5 million, ahead of the streamer reporting its earnings on Thursday. The increase includes gains in North America.
The analyst also raised his estimate for Netflix’s second-quarter earnings to $22.35 a share from $22.25 a share and his target price for Netflix stock by $35 to $565 a share.
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