Netflix (NFLX – Free Report) recently released the trailer for From the A-list to the playlistwhich is scheduled to premiere on August 30. The show follows Cho Jung-seok, who steps away from the screen to pursue his long-held dream of becoming a singer-songwriter. The newly released trailer promises an emotional journey filled with moments of struggle, inspiration and triumph as Cho overcomes the challenges of his musical ambitions.
The series is supported by an impressive lineup, including well-known artists such as Gummy, Dynamic Duo, Kim Ea-na and Kong Hyo-jin. These stars will lend their expertise, encouragement and a little love to help Cho discover and hone his musical talent. The trailer also reveals that megastars IU and Park Hyo-shin are joining the cast, further increasing the anticipation for the show.
In addition to the musical and emotional depth, the series will also showcase Cho’s comedic side thanks to his “right and left” men Jung Sang-hoon and Moon Sang-hoon. Their humorous antics will provide a perfect counterbalance to the series’ more intense moments.
NFLX’s upcoming Korean content is expected to boost revenue in Asia-Pacific
This Zacks Rank #3 (Hold) company unveiled its 2024 content slate targeting the growing Korean streaming market. The slate includes a strong year for K-dramas, underscoring Netflix’s commitment to diverse storytelling. This should boost APAC revenue in the coming quarters. You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here.
The Zacks Consensus Estimate for NFLX’s 2024 APAC revenue is $4.28 billion, representing year-over-year growth of 13.3%.
2023 was a strong year for Korean content on Netflix as it became the most watched non-English content. It included major titles such as Doctor Cha, Blood Hounds, The Glory and Queenmaker.
The upcoming K-Drama program includes new seasons of popular series such as Squid Game And Gyeongseong Creatureas well as new series such as The Frog, Mr. Plankton, Devil May Cry And On the journey to hell. These upcoming shows reflect a diverse range of genres and star-studded casts, underscoring Netflix’s continued commitment to offering compelling Korean dramas.
However, Netflix faces strong competition in the streaming sector. Amazon (Amazon – Free report), fox‘S (FOXA – Free report) Tubi and Disney (DIS – Free report).
Netflix has gained 38.4% year-to-date, while the Zacks Consumer Discretionary sector has fallen 2%. AMZN and FOXA shares have returned 16.5% and 33.3%, respectively, during the same period. DIS shares have lost 1.1% year-to-date.
Diploma
Netflix’s growing regional offering is a big plus and promises good long-term growth for the company. However, competition in the streaming industry remains a cause for concern.
Additionally, the company’s focus on streaming regional content has led to international growth. NFLX is diversifying its content portfolio and working on projects across Korea, as well as other locations such as India, Mexico, Spain, Italy, Germany, Brazil, France, Turkey and the entire Middle East.
The Zacks Consensus Estimate for NFLX’s third-quarter 2024 earnings per share is $5.07, up 37 cents over the past 30 days. The consensus estimate for 2024 earnings is $19.08 per share, up 73 cents over the past 30 days.
