Shares of Netflix Inc. (NFLX) surged 13.4% to close at $81.72 on July 5, 2012, after Chief Executive Officer (“CEO”) Mr. Reed Hastings recently announced that subscribers watched 1 billion hours of television shows and movies in the month of June. In his blog post on social networking site Facebook (FB), Mr. Hastings shared his optimism on the upcoming releases of House of Cards and Arrested Development, which are believed to drive further viewership. Netflix is expected to stream House of Cards, starring Kevin Spacey, later this year. The company plans to air 10 new episodes of Arrested Development in early 2013. This show will also be available to United Kingdom and Ireland subscribers. The recent surge in viewership has been primarily driven by Netflix’s engaging content, in our view.
↧