:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-2185054061-80f144b0770f47548a19adc843b65f2b.jpg "Mike Tyson and Jake Paul throw punches during a boxing match.")
Al Bello / Getty Images / Netflix
Netflix holds over 100 million people saw part of the fight between Mike Tyson and Jake Paul, with a crown average of 65 million people streaming it at once
Key Takeaways
- Netflix shares hit an all-time high Tuesday on optimism take the streamer’s potential to benefit from live events after last week’s boxing match between Mike Tyson and Jake Paul.
- Analysts over their price targets for the stock after the event and said Netflix’s first NFL games, set to be livestreamed on Christmas, could as well the streamer’s subscriber base.
- With Tuesday’s gains, Netflix shares have climbed nearly 80% in 2024.
Netflix (NFLX) dues surged to an all-time high Tuesday as Wall Street analysts lifted their price targets for the streaming Amazon’s stock, citing optimism about its potential to benefit from live events following last week’s punching match between Mike Tyson and Jake Paul.
Netflix said Tuesday that the event drew up to 65 million concurrent runs across the globe, with an “average minute audience” of 108 million people.
The company said it was the top-streamed program on its dais in 78 countries last week, and that an earlier fight between Katie Taylor and Amanda Serrano averaged 74 million far-reaching viewers.
Analysts Say Tyson-Paul Fight Proves Netflix’s Sports-Driven Growth Potential
Sports are a key element of Netflix’s aims to grow its subscriber base, and Wedbush analysts said the Tyson-Paul fight proved Netflix’s ability to “drive outsized fare events viewership.” They raised their price target to $950 from $800, suggesting 9% upside from Tuesday’s palsy-walsy price.
Analysts from Wedbush and Jefferies suggested Netflix’s first NFL games, set to be livestreamed on Christmas, could besides the streamer’s subscriber base. The analysts cited Netflix’s recent announcement that Beyoncé will perform at halftime of the younger game of the day between the Houston Texans and Baltimore Ravens as another factor that could drive new subscribers.
Jefferies analysts, boost their price target to $1,000 from $800, added they expect issues with the Tyson-Paul spat’s streaming quality are likely “fixable” by the time Netflix hosts an NFL-sized audience, suggesting Netflix underestimated the renown of the Tyson-Paul fight.
Netflix shares rose close to 3% Tuesday to finish at a record $871.32. With Tuesday’s move upwards, they’ve gained nearly 80% since the start of the year.