Netflix has been pulling out all the stops in order to create new original programming for its subscribers, but that hasn't always been a boon to its stock market performance. Just a few short months ago, Netflix was quietly being sold off by quite a few of its investors, as stock for other streaming companies, like Hulu or Amazon have looked more appealing. On Friday, however, Netflix hit a high in the stock market, with its stock being valued at $133.70 for the first time.
This is really good news after months and months of meh news on the business end. This week, an analyst pulled his former opinion of Netflix stocks, with the analysis of the streaming service's stock value jumping from "sell" to "hold." This may not seem like huge news, but it's definitely a step in the right direction, as Netflix actually saw subscriber growth slow earlier during 2016.
Things are sort of up in the air right now, as Netflix is holding off until January 18 on announcing its earnings, but these early signs are encouraging. On that date, the subscription streaming service will announce its Quarter 4 earnings, which Wall Street Pit says are expected to increase a bit from previous quarters, with overall revenue estimated to increase 35% from this time last year.
As Netflix's subscriber base in the U.S. has slowed down in terms of growth, Netflix has made a big push to create more avenues for revenue elsewhere. The company has expanded into a lot more countries in recent years, and part of Netflix's big originals push has included shows set in different countries, some of which have been a great success. The Crown recently landed Netflix some big nominations at the 2017 Golden Globes, and even took home the win for best drama. Narcos has also proven popular in countries around the world.
The push to originals has mostly worked for the company. While some people have been upset when shows like Doctor Who have been pulled from the streaming service, Netflix's originals have done better than its other fodder, at least in terms of the reviews people using the service have given shows. In 2017, the streaming service has plans to increase its original programming by an even higher percentage, and recent reports have indicated that Netflix even has plans to get into unscripted programming in a big way.