Streaming giant Netflix (NFLX) is allowing subscribers to customize and share video clips on their mobile devices.
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People can share the video clips using Netflix’s “Moments” feature. Viewers can choose where to start and end a clip of a Netflix movie or TV show and then share the clip with others. The new feature, which is only available on mobile devices, was announced along with the release of the latest episodes of the popular TV program “Wednesday,” which is part of the Addams’ Family franchise.
Netflix said that it aims to capitalize on viral moments in shows such as “Wednesday.” The update includes a “clip” option on the screen to adjust the length of a segment. After a video is clipped, it will be saved to people’s “My Netflix” tab for re-watching or sharing with others. Wednesday is the most popular Netflix show to date, with more than 252 million views, according to the company.
Going Viral
A scene in the Addams’ Family spinoff of title character Wednesday dancing recently went viral and became one of the show’s most popular moments. The new video clip sharing feature is also being launched as Netflix looks to better compete against short-form video app TikTok, as well as Alphabet-owned (GOOGL) YouTube.
Netflix recently redesigned its homepage and added a vertical video feed on its mobile app that looks similar to TikTok. The streaming giant has undergone several changes in recent years as it cements its dominance in streaming, including launching a cheaper ad-supported subscription plan and cracking down on password sharing.
Is NFLX Stock a Buy?
The stock of Netflix has a consensus Moderate Buy rating among 37 Wall Street analysts. That rating is based on 25 Buy, 11 Hold, and one Sell recommendations issued in the last three months. The average NFLX price target of $1,395.19 implies 15% upside from current levels.
