Video rental and streaming company Netflix Inc. (NASDAQ: NFLX) is reported to be near a deal to produce a second original series in its continuing battle for primacy in the streaming video world. The company appears determined to compete head-to-head with the HBO division of Time Warner Inc. (NYSE: TWX).
The new series, to be called “Orange is the New Black,” according to Bloomberg News, is a comedy by the creator of the Showtime’s “Weeds.” Netflix’s first new series is a drama, “House of Cards,” set to air later this year.
Netflix is trying to boost demand for its streaming service by creating original programming to help offset both the difficulty it has in negotiating with other media companies and the high prices those companies demand for content.
Netflix shares are up more than 4% today at $123.09 in a 52-week range of $62.37-$304.79.
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