Netflix’s hit show Squid Game is driving the company’s shares to outperform its streaming rivals as well as other technology peers in the month since the release of the TV series.
The show has now boosted the stock’s market value by $19 billion since its launch on September 17. That’s roughly 20 times the size of its reported $900 million impact value, a metric the company uses to assess the performance from individual shows. In early Monday trade, the stock was up 0.52 per cent.
The streaming pioneer’s shares have risen 7.1 per cent since the launch of the show, outshining other big technology stocks and its streaming rivals. The NYFANG+ Index, which includes the likes of Apple, Google-owner Alphabet and Tesla., rose 0.6 per cent during that period, while rival Walt Disney, which owns the Disney+ streaming service, saw its stock decline 3.8 per cent.
Netflix shares are just 1.7 per cent away from an all-time closing high, and analysts expect the show to boost quarterly earnings due Tuesday. UBS Research analysts say they expect the company will indicate further acceleration in sign-ups for its app for the current quarter on the back of some hit series, including Squid Game.
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