With big shows leaving service, Netflix will have to do better than comedy specials, analyst says
Netflix might need to do better than comedy specials to keep its users on the platform, according to Rosenblatt Securities. On Tuesday, WarnerMedia announced its new streaming service, HBO Max, will have exclusive rights to "Friends," stripping it from Netflix's library. These licensed series have been staples for Netflix in driving viewing hours between Netflix's original content series, such as "Stranger Things." "The Office" accounted for almost 3% of viewing hours in 2018 and "Friends" accounted for almost 2% of viewing hours in 2018, according to Zgutowicz. Despite the cautious outlook for Netflix, Zgutowicz raised his price target for the streaming service to $370 from $350.
cnbc.com