‘House of Cards’ proves to be lucky for Netflix Inc (NASDAQ:NFLX)

Posted by Lynn Eisler September 24, 2013 0 Comment 1314 views

Netflix, Inc (NASDAQ:NFLX)’s growth in Canada has been phenomenal. Approximately 17% of Canadian homes subscribe for this online service and the Canadian television industry is very evidently shaken-up. The Canadian Radio-television & Telecommunications Commission annual report said that in 2012, there was a 70% growth in streaming video-service in Canada. This amounts to around 2.5M households, though the actual number is pegged to be even higher than that.

House of Cards Power

The Emmy-winning, House of Cards launch has made Netflix, Inc (NASDAQ:NFLX) even more popular since the time those numbers came in. The CRTC is definitely feeling threatened with the internet service disruption in their industry. No doubt, consumers find this service attractive. However, Canadian television providers say that competing with them is difficult as the Canadian broadcasting system does not receive any financial contribution from them.

Monday’s trading

In Monday’s trading session, Netflix, Inc (NASDAQ:NFLX) stock dropped by 3.76%. The opening price of the shares was $320.39 which was also the intraday high of the day and then dropped to a close of $302.04. Approximately 4.58 million shares were traded on Monday. An average volume of 2.87 million shares were traded over 30 days. The 52-week low of the shares is $53.05 and the 52-week high is $320.39. The company has a market cap of $17.80 billion.

About the company

Netflix, Inc (NASDAQ:NFLX) came into existence on 29 August 1997. It is an Internet subscription-service that streams movies and television shows. Its subscribers are able to watch unlimited movies and television shows that are streamed across the Web to their TV’s, mobile devices and computers. In the U.S, subscribers are also able to have DVDs delivered to their doorstep.

Netflix, Inc (NASDAQ:NFLX) operates in 3 segments: Domestic streaming; Domestic DVD and International streaming. It acquires content from different content providers and studios via revenue-sharing agreements, fixed-fee licenses and direct purchases.

About Lynn Eisler

Lynn Eisler is a national news reporter focusing on economic issues, data analysis and the financial health of state and local governments. Lynn has been honored with the H.L. Mencken Award for Investigative Reporting, the Champion of Justice Award for reporting on the drug war, and the John Hancock Award for business reporting. Lynn was also a Knight Medical School Fellow at the University of Michigan.

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