$Netflix(NFLX)$ ππΊπ ±ππ »π »π Έππ ·πΊπ
$NFLX: Pivotal Research Raises target price to $1,100 from $925 (Street-high) π―π―π―
Guess they weren't unhappy with the poor coverage π€ This is a huge revision!
Fox π°: Netflix is facing a lawsuit after widespread complaints about buffering and glitches during the Jake Paul-Mike Tyson fight Friday night.
The lawsuit was filed in Florida by Ronald "Blue" Denton and accuses Netflix of "breach of contract" for constant glitches during the event, per TMZ.
Netflix acknowledged the poor streaming quality of the highly anticipated event in a statement released Monday.
"This unprecedented scale created many technical challenges, which the launch team tackled brilliantly by prioritizing stability of the stream for the majority of viewers," said Netflix executive Elizabeth Stone. "I'm sure many of you have seen the chatter in the press and on social media about the quality issues. We don't want to dismiss the poor experience of some members and know we have room for improvement but still consider this event a huge success."
Netflix also revealed Tuesday that Friday's live boxing event between Tyson and Paul drew 108 million viewers globally, making it the "most-streamed sporting event ever."
Netflix's live broadcast from AT&T Stadium in Arlington, Texas, peaked at 65 million concurrent households in the U.S. An estimated 56% of all TV viewership in the country was tuned into the Tyson-Paul fight between 12 a.m. and 1 a.m. ET, the streaming service added.
The co-main event, a rematch between Katie Taylor and Amanda Serrano, drew 74 million live viewers globally to become the most-watched professional womenβs sports event in U.S. history.
Issues started to occur during the Mario Barrios-Abel Ramos bout and only increased ahead of the Serrano-Taylor fight.
Detector reported that at least 85,000 viewers reported problems. One particular moment ignited fierce backlash and mockery on social media for Netflix when boxing legend Evander Holyfield and Dallas Cowboys team owner Jerry Jones had their mics cut out while they were talking about the fights. Jones was touting the NFLβs partnership with Netflix.
Howard Stern warned Netflix on his radio show that it had better get it right.
"You know, I donβt how this stuff works, but you gotta make sure it works. β¦ But if you f--- up peopleβs football, thereβs gonna be hell to pay," Stern said.
Netflix will stream an NFL debut doubleheader on Christmas with games between the Kansas City Chiefs and Pittsburgh Steelers and the Baltimore Ravens and Houston Texans.
Grab your popcorn πΏ Tigers and watch for the next episode! Happy trading ahead! Cheers BC πππ
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Based on the available news and information, here is the key movement reason for Netflix (NFLX) on 2024-11-20:
Netflix's stock hit an all-time high on optimism about its potential to benefit from live events, particularly after the boxing match between Mike Tyson and Jake Paul. The event drew up to 65 million concurrent streams globally, with an average minute audience of 108 million people. Analysts raised their price targets for Netflix following the event, citing the company's potential to attract more subscribers through live events.
Netflix's upcoming livestream of NFL games on Christmas is also seen as a catalyst for subscriber growth. Analysts believe these games could further boost the streamer's subscriber base.
Netflix's stock has been performing strongly in 2024, with shares climbing nearly 80% year-to-date.
Please note that stock movements can also be influenced by factors such as market sentiment, overall market conditions, and investor expectations. It's essential to conduct thorough research and exercise caution before making any investment decisions.
Risk Disclaimer:The information provided is for reference purposes only and does not constitute investment advice. Always conduct your own research and consider your risk tolerance before making any investment decisions. Investing in stocks involves risks, including the potential loss of principal.
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