“Now Streaming” is The Fly’s weekly recap of the tales surrounding the most important content material streamers.
PLAYING THIS WEEKEND: Amongst this weekend’s most notable new streaming content material is the primary three episodes of “Margo’s Acquired Cash Troubles”, a brand new dramedy starring Elle Fanning, Michelle Pfeiffer and Nick Offerman on Apple TV (AAPL). In the meantime, Netflix (NFLX) subscribers can binge all eight episodes of “Beef”, a darkish comedy anthology sequence led by Carey Mulligan and Oscar Isaac for the second season. Moreover, Amazon (AMZN) Prime Video customers can watch “American Gladiators”, a reboot of the 90’s sport present the place beginner athletes compete towards skilled gladiators.
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NETFLIX FALLS AFTER Q1 EARNINGS: Shares of Netflix fell after the corporate reported first quarter earnings and gave a forecast for Q2 that underwhelmed Wall Avenue simply months after it misplaced out on a bid for Warner Bros. Discovery (WBD).
On Thursday, Netflix reported Q1 earnings per share of $1.23 on income of $12.25B, which in comparison with analyst estimates of 77c and $12.17B, respectively. The corporate mentioned the Q1 EPS beat was pushed by working earnings and a $2.8B termination charge associated to the Warner Bros. transaction. Netflix guided to Q2 EPS of 78c on income of $12.57B, which in comparison with analyst consensus of 84c and $12.64B, respectively. The corporate additionally forecast FY26 income of $50.7B-$51.7B, which compares to analyst estimates of $51.38B. Moreover, Netflix introduced that co-founder and chairman Reed Hastings won’t stand for re-election to the board of administrators.
Following the report, Barclays lowered the agency’s value goal on Netflix to $110 from $115 and saved an Equal Weight ranking on the shares. The earnings inventory response “factors to the danger with expectations arrange which can persist past the quick time period,” the analyst mentioned.
JPMorgan reiterated an Obese ranking on Netflix with a $118 value goal. The agency really helpful shopping for the shares on the selloff. JPMorgan understands that some traders will probably be disenchanted with no improve to the 2026 outlook regardless of the Q1 upside. Netflix indicated that value will increase for the yr are already factored into the preliminary 2026 steering for income progress of 12%-14%, the analyst mentioned. JPMorgan believes Netflix “continues to execute nicely, with appreciable progress headroom.”
In the meantime, Piper Sandler raised the agency’s value goal on Netflix to $115 from $103 and retains an Obese ranking on the shares. The agency famous the corporate reported an in line Q1 2026 print with revenues and EBIT each 1% above Piper’s estimates. Administration reiterated 2026 steering which despatched the inventory 10% decrease after market. Whereas outcomes weren’t flashy, the agency mentioned Netflix seems refocused on the core with some adjoining initiatives like advertisements rising nicely.
Moreover, Morgan Stanley mentioned it could “purchase the dip” in Netflix following the corporate’s Q1 report with numbers not shifting a lot, noting that agency nudged up its FY27 EPS forecast to $3.87 and that it finds “valuation compelling for a compounder with pricing energy.” Whereas the Q2 steering and lack of FY26 increase drove shares decrease in after-hours, the agency thinks these are defined by the timing of U.S. value hikes and a few conservatism early within the yr, added the analyst, who saved an Obese ranking and $115 value goal on Netflix shares.
WRITERS, ACTORS, DIRECTORS OPPOSE WARNER DEAL: Over 1,000 writers, actors and administrators launched a letter on Monday opposing Paramount Skydance’s (PSKY) acquisition of Warner Bros. Discovery. The letter states partially, “As filmmakers, documentarians, and professionals throughout the film and tv business, we write to specific our unequivocal opposition to the proposed Paramount-Warner Bros. Discovery merger. This transaction would additional consolidate an already concentrated media panorama, decreasing competitors at a second when our industries- and the audiences we serve – can least afford it. The consequence will probably be fewer alternatives for creators, fewer jobs throughout the manufacturing ecosystem, larger prices, and fewer selection for audiences in america and world wide. Alarmingly, this merger would scale back the variety of main U.S. movie studios to only 4. Our business is already below extreme pressure, largely resulting from prior waves of consolidation. We now have witnessed a steep decline within the variety of movies produced and launched, alongside a narrowing of the sorts of tales which are financed and distributed. More and more, a small variety of highly effective entities decide what will get made-and on what phrases – leaving creators and unbiased companies with fewer viable paths to maintain their work.”
Moreover, The UK’s Competitors and Markets Authority mentioned it’s searching for views on the anticipated acquisition of Warner Bros. Discovery. “The CMA has not but launched its formal investigation into this transaction. This invitation to remark is the primary a part of the CMA’s information-gathering course of,” the company mentioned.
ROKU SURPASSES 100M STREAMING HOUSEHOLDS: Roku (ROKU) introduced Thursday it has surpassed 100 million streaming households worldwide. Roku introduced it has surpassed 100 million streaming households worldwide, a serious milestone that highlights the corporate’s scale and momentum. “Surpassing 100 million streaming households is a defining second, not only for Roku, however for the way forward for tv,” mentioned Anthony Wooden, CEO. “We’re serving to form the leisure panorama by making it simpler to find nice content material, extra inexpensive to observe it, and more practical for advertisers and companions world wide to attach with audiences. We’re deeply grateful to our viewers, groups, advertisers, and companions for serving to us attain this milestone. And because the shift to streaming continues to speed up, we’re extra energized than ever to steer the evolution of tv.”
Baird raised the agency’s value goal on Roku to $130 from $120 and saved an Outperform ranking on the shares. The agency up to date its mannequin after the corporate surpassed 100M streaming family milestone.
Jefferies raised the agency’s value goal on Roku to $140 from $135 and saved a Purchase ranking on the shares. Forward of Q1, the agency is elevating its FY26 Platform income progress estimate to 18.5% year-over-year from 18% and its Platform margin estimate to 51.8% from 51.5% on strengthening advertisements traits and political contribution, the analyst mentioned.
MAGNITE, AMC GLOBAL MEDIA ENTER COLLABORATION: Magnite (MGNI) introduced Wednesday a collaboration with AMC World Media (AMCX) to increase the corporate’s unified linear and streaming providing to consumers programmatically. Enabled by ClearLine, Magnite’s activation and curation answer, advertisers will have the ability to purchase AMC’s TV content material via a single entry level. Magnite’s expanded collaboration with AMC World Media offers consumers a clearer path to achieve thousands and thousands of engaged viewers throughout the corporate’s linear networks, FAST channels and AMC+ flagship streaming service. The corporate can also be leveraging Magnite’s Stay Scheduler answer to optimize its reside linear addressable stock.
FREEWHEEL LAUNCHES CONTEXT ENGINE: Comcast’s (CMCSA) FreeWheel introduced Tuesday the launch of Context Engine, a brand new AI-driven characteristic inside FreeWheel’s Streaming Hub that helps advertisers align advertisements to related premium video content material. “Contextual promoting is an more and more vital lever for efficiency and monetization in premium video. But the excessive price of implementation has restricted adoption at scale for a lot of publishers,” mentioned Larry Allen, VP of World Technique Addressable, Information, and Measurement, FreeWheel. “Context Engine solves these challenges, offering smarter advert alignment and stronger model security to drive larger engagement for advertisers, and enabling publishers to activate premium contextual alerts in weeks versus months.”
STOCK PLAYS: Different publicly traded firms within the house embody Disney (DIS), Fox (FOXA) and FuboTV (FUBO).
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