This Indicator Can Turn Even the Most Bearish Investors Into Netflix Bulls
It has been a tough year for Netflix (NASDAQ: NFLX), to say the least. The company shed 200,000 subscribers in the first quarter of 2022 and followed that performance by losing another 1 million members in the second quarter. And the stock has gotten hammered, down 66% from its all-time high last November. However, it's not all bad news for Netflix.
Let's take a look at an important data point that could turn the streaming giant's naysayers into supporters of the business and its stock.
According to Nielsen Holdings, a market research firm, Netflix accounted for 8% of total U.S. TV viewing time in the month of July, the most of any streaming service provider. Not only was this higher than the 7.7% recorded in June, but it was also 0.7 percentage points above Alphabet's YouTube. Streaming hours surpassed cable TV for the first time ever as well, an accomplishment that proves the secular shift away from traditional TV toward streaming entertainment still has legs.
Source Fool.com
