Netflix Is Gearing Up for Greatness. What's This Company Got Up Its Sleeve?
Competition in the streaming industry is fierce, with content at the center of the fight to the top. Many of the biggest names in streaming have content libraries that span decades. However, Netflix (NASDAQ: NFLX) is playing catch-up after entering original content production in 2013. The company is now trying to develop franchises that compete with brands such as Star Wars and Harry Potter.
Here's why the company's focus on popularizing new franchises will help create sustained growth.
Netflix released its original action thriller The Gray Man on July 22. It became the No. 1 most-watched film on the service in the period spanning July 18-24. The movie amassed 88.5 million viewing hours in three days, 159% more than the second-most watched film of the week, The Sea Beast. The Gray Man comes from Marvel duo Anthony and Joe Russo, directors of Avengers: Infinity War and Endgame, who specialize in growing franchises.
Source Fool.com
