Netflix to Produce Another Original Series (NFLX, TWX)
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…
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.
Contact [email protected] for any questions or corrections.
Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
