Netflix Stock Rises After Strong Emmy Night

The good news continues to roll in for the nation’s number one streaming service. The morning after tying HBO with 23 Emmy wins at last night’s event, Netflix’s stock has now risen 2%, sitting at about $359 a share.

While HBO’s Game Of Thrones took the honors for Best Drama Series, Netflix’s key victories for The Crown and Godless helped propel the streaming service to the same level as the popular premium cable network. This accomplishment is a large one given the climb Netflix has made. In 2016, the streaming service was third in Emmy wins.

This year, not only did Netflix tie HBO, but with other wins by Hulu and Amazon, basic broadcast television networks were only able to take home two statuettes last night (NBC’s Saturday Night Live and ABC’s presentation of The Oscars, respectively). This outcome is a clear showing of how content consumption has evolved since Netflix decided to begin their streaming service back in 2007. Investors see a continued rise in the network and seem to want to climb aboard the Netflix train.

Related – Netflix And HBO Tie For Emmy Wins

Many of Netflix’s winners last night saluted the streaming service for allowing creative freedom under its banner, which is a testament to why Netflix continues to be successful. Since it kicked off its original content like Orange Is The New Black and House Of Cards years ago, Netflix has been able to take projects that would be considered risky by other networks and turn them into household names that viewers binge through in a week (or a day). It will be interesting to see what Netflix has planned for its continued progression and whether it can actually kick out HBO and take over the throne at next year’s Emmys.

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Source: Deadline.

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Anthony Esteves

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