Netflix Inc. (NFLX) stock rallied Monday following the streaming giant’s record-breaking boxing event featuring Mike Tyson and Jake Paul, despite technical difficulties that plagued some viewers during the live broadcast.
What Happened: Gary Black, Managing Partner of The Future Fund LLC, wrote on X, “One could have made a lot of money scooping up Netflix this morning below $815,” noting that the stock finished at $848. He emphasized that the technical glitches were “easy fixes” and suggested the impressive viewership of 60 million could signal stronger subscriber growth in the fourth quarter.
The streaming platform’s capacity to manage high-traffic live events is being closely evaluated as Netflix gears up for its next major live programming challenge: two exclusive NFL games on Christmas Day.
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Why It Matters: Friday’s boxing event, which saw Paul defeat Tyson in a unanimous decision, drew an unprecedented 60 million households globally.
While some viewers experienced disruptions during the broadcast, with DownDetector reporting over one million global complaints, the technical issues appeared to primarily affect the preliminary card rather than the main event. The streaming service has approximately one month to address these technical challenges before its Christmas Day NFL debut.
Netflix’s expansion into live sports continues with the announcement that Beyoncé will perform during halftime of the Baltimore Ravens-Houston Texans game, scheduled for 4:30 p.m. ET on Dec 25. The performance will mark the first live rendition of songs from her “Cowboy Carter” album.
The streaming service, which recently reported reaching 282.72 million global paid subscribers, has already sold out advertising inventory for both Christmas Day NFL games, securing partnerships with major brands including FanDuel and Verizon Communications Inc.
Price Action: Netflix closed at $847.05 on Monday, gaining 2.80% for the day. In after-hours trading, the stock edged up further by 0.089%. Year to date, Netflix has surged 80.80%, according to data from Benzinga Pro.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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