Joey Chestnut, the 16-time hot dog-eating champion, will be competing in a new hot dog-eating contest on Netflix NFLX. This comes after he was excluded from the Nathan’s Famous Fourth of July hot dog-eating contest due to a deal with a rival brand.
What Happened: Netflix announced a new hot dog-eating competition, “Chestnut vs. Kobayashi: Unfinished Beef,” which will feature Chestnut and his long-time rival, Takeru Kobayashi. The event is scheduled to be broadcast live on Sept. 2, reported the Associated Press on Wednesday.
The contest will see the two competitors devouring all-beef hot dogs, possibly in reference to rumors that Chestnut’s rival brand deal is with Impossible Foods, a manufacturer of plant-based hot dogs.
Following the announcement, George Shea, an organizer for Major League Eating, the body that oversees the Nathan’s contest, suggested that Netflix was attempting to replicate the Nathan’s contest, which he believes is impossible to do.
New York City Mayor Eric Adams joined the conversation, urging Nathan’s and Major League Eating to resolve the issue. He stated that it would be “impossible” to hold the Nathan’s Famous International Hot Dog Eating Contest without Chestnut.
"Through all of my years in competitive eating, Kobayashi stands out as my fiercest rival," Chestnut said via the release. "Competing against him pushed me to be so much better. I know that fans have waited a long time for another chapter of our rivalry and I can't wait for our massive showdown live on Netflix! It's time to give the people what they want!"
"Retiring for me will only happen after I take him down one last time," Kobayashi said. "This rivalry has been brewing for a long time. Competing against Joey live on Netflix means fans all over the world can watch me knock him out."
Why It Matters: The exclusion of Chestnut from the Nathan’s contest due to an “exclusivity” issue has sparked controversy. Chestnut has denied that he made the choice to step back from the competition, claiming that it was the decision of Nathan’s and Major League Eating.
Netflix’s decision to host a hot dog-eating contest featuring Chestnut and Kobayashi has added a new dimension to the ongoing dispute. The event is expected to draw significant attention, as it marks the first time the two competitors have faced off since 2009.
For Netflix, this hot dog-eating competition is part of the company’s larger strategy to expand into live TV and emphasize sporting events. This includes plans to broadcast Christmas Day NFL games starting this year and WWE’s “Raw” in 2025.
This move comes amid the streaming giant’s ongoing legal issues, including a defamation lawsuit over its portrayal of a character in the mini-series “Baby Reindeer.”
Price Action: Netflix Inc.’s stock closed at $650.06 on Wednesday, up 0.23% for the day. In after-hours trading, the stock dipped 0.75%. Over the past year, Netflix’s stock has seen significant growth, rising by 49.19%, according to the data from Benzinga Pro.
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This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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