Netflix Extends Deal with Common Shots

Netflix (NFLX) has extended an arrangement with Comcast’s (CMCSA) Common Filmed Enjoyment Group (UFEG) that offers it special legal rights to stream specified animated films in the U.S.

Netflix at present streams animated material from Universal’s Illumination studios. Below the new settlement, it will acquire the rights to Universal’s DreamWorks productions as nicely. (See Netflix inventory charts on TipRanks).

“We are thrilled to keep on our partnership with UFEG to deliver more films from Illumination and DreamWorks Animation to our Netflix audience…Netflix households appreciate seeing and rewatching animated movies, and this offer lets us to develop our library to convey our viewers more of what they want to view,” reported Colin Morawski, Netflix’s Director of Studio Licensing.

“Universal Filmed Amusement Group generates some of the most significant animated franchises and boldest originals…This enjoyable settlement further more demonstrates the relevance of that content to our distribution partners,” commented Peter Levinsohn, Universal’s Main Distribution Officer.

DreamWorks films will go to Netflix following 4 months of streaming on Comcast’s Peacock platform. The key DreamWorks animated series coming to Netflix in 2022 contain Puss in Boots and Minions. As section of the deal, Netflix will license the rights to much more Universal productions four years after their launch.

JPMorgan analyst Doug Anmuth not too long ago reiterated a Invest in ranking on Netflix stock with a selling price target of $600. Anmuth’s price tag target indicates 10.97% upside opportunity.

“We stay good on the shares into earnings and 2H21 as we believe that NFLX could have its strongest 6-thirty day period articles slate ever…NFLX should make more development in beneath-penetrated int’l marketplaces,” observed Anmuth.

Consensus among analysts is a Reasonable Obtain based mostly on 26 Buys, 7 Holds, and 3 Sells. The normal Netflix cost focus on of $606.39 indicates 12.15% upside probable to current degrees.

NFLX scores a 6 out of 10 on TipRanks’ Wise Score score method, suggesting that the inventory is most likely to carry out in line with industry averages.