"Things have been looking down for shares of video-streaming king Netflix ( NASDAQ:NFLX) in recent months. The stock has now shed more than 13% since its summer peak and could be at risk of entering bear market territory (20% fall) as some of the hottest catalysts are now in the rearview mirror. Indeed, the Canelo vs. Crawford boxing match was a knockout success, averaging more than 41 million views around the world."
"Perhaps most remarkably, the stream quality held up well, unlike the issues many faced during the Tyson vs. Paul fight in the final quarter of last year. In any case, I think it's safe to say that Netflix has mastered live streaming to the masses. As the streaming giant looks to set its sights on more live spectacles, it's tough to turn away from the streamer in its moment of pressure."
Netflix's shares have fallen more than 13% since their summer peak and could approach bear-market territory with a 20% decline. The Canelo vs. Crawford boxing match drew over 41 million viewers worldwide and demonstrated strong live-streaming quality. The stream avoided the technical issues that affected the Tyson vs. Paul event, suggesting Netflix has mastered live streaming at scale. Live boxing represents a major opportunity to attract and retain subscribers because a Netflix subscription is far cheaper than a pay-per-view purchase. Live sports can increase subscription stickiness. The content pipeline remains robust, but significant challenges persist.
Read at 24/7 Wall St.
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