Netflix (NFLX) Scores Big with Tyson Fight Live Stream, Sparks Ad Revenue Shift

Nov 19, 2024

Research by Jefferies indicates that the recent live stream of the Tyson boxing match on Netflix (NFLX, Financial) attracted an impressive 60 million viewers. This event marks a significant breakthrough in Netflix's live event strategy and is poised to catalyze a shift in advertising budgets from the U.S. cable TV market, which is valued at over $50 billion.

The substantial viewership figures bolster confidence in Netflix's upcoming live American Football League (NFL) game during the holiday season. Jefferies anticipates that the NFL game's audience will surpass that of cable TV, providing another boost for advertising growth.

Reflecting this optimism, Jefferies has raised its forecast for Netflix's EBITDA by 3% for the fiscal years 2026 and 2027. Furthermore, they have increased Netflix's target price from $800 to $1000, while maintaining a "buy" rating for the stock.

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