Netflix (NASDAQ:NFLX) is set to make its live streaming debut early next year with popular comedian Chris Rock. The move is a part of the company’s initiatives to make its streaming platform attractive and expand its subscriber base amid intense competition.
The project will mark Rock’s second stand-up special for Netflix, following his first program Chris Rock: Tamborine, which premiered in February 2018.
Earlier this week, the Wall Street Journal reported that Netflix is considering streaming live sports on its platform. After two disappointing quarters, Netflix impressed investors with better-than-expected third-quarter results. Specifically, the company reported 2.41 million net subscriber additions, which was way better than its guidance of one million additions.
Through live streaming and other interesting content, Netflix is trying to maintain its dominance in the streaming space. The company is also taking other initiatives to enhance its business, including the introduction of a lower-price, ad-supported plan and crack down on password sharing.
What is the Prediction for Netflix Stock?
On TipRanks, Netflix earns a Moderate Buy consensus rating based on 13 Buys, 14 Holds, and four Sells. The average NFLX stock price target of $284.20 suggests a modest upside potential of 3.4%. Shares have plunged over 54% year-to-date.