Netflix Unveils New Alliances and a New Show
Life appeared a little richer for owners of Netflix (NASDAQ: NFLX) stock on Monday. Shares closed at $324.36, a 7.8 percent increase. It was another good day for the company on top of an impressive year that has seen the value of its shares more than triple. Continued market success came on the heels of two major developments, one announced by Netflix itself and the other just a rumor — so far.
On Monday, The Wall Street Journal reported that Netflix would be partnering with Sony Corp. (NYSE: SNE) to produce a new original series. The announced psychological thriller will have 13 episodes and will be available to stream instantly, according to Reuters, making the rollout for the show similar to House of Cards, another of Netflix’s originally produced shows.
Netflix built its reputation on an impressive catalogue of media subscribers. Customers pay a monthly fee to access content either through Internet streaming services or DVDs that arrive in the post. Originally, the offerings consisted of television programs, movies, documentaries, and the like. Unwilling to maintain the status quo, Netflix is now pushing into more “traditional” television spheres by creating original programs and widening opportunities for viewership.