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Netflix Stock Approaching All-Time High Thanks to NFL Rights Win and Ad Tier Improvements

The shares of streaming service giant Netflix have continued their rise this week as the company’s stock (NFLX) approaches its all-time high.

Netflix’s shares have jumped by almost 5% in the past five days, closing in at $ 686.12 per share and 46.45% up year-to-date. NFLX reached its record price of $691.69 per share back in November 2021.

There are several reasons why NFLX is once again trending upwards, with the recent acquisition of rights to NFL games and improved results of its ad-supported subscription tier leading the way.

Netflix announced that it will have exclusive streaming rights to two NFL games, which will be played on Christmas Day. The streamer and the league agreed on a three-season partnership, allowing Netflix to step into a lucrative market of streaming sports.

Additionally, Netflix’s ad tier saw gains in popularity after a slow start. The company revealed that it now has 40 million subscribers on the ad tier on a global level compared to five million in the same period last year.

Netflix also benefited from increased prices to its ad-free subscription plans and a crackdown on password-sharing, which helped the company expand its user base further.

Many Wall Street analysts believe that Netflix’s stock will continue to be attractive to investors in the foreseeable future and that it is only a matter of time before the company’s shares break the $700 mark.

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