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Deutsche Bank raised its rating on Netflix shares recently, betting that the streaming service will become a global “cultural necessity.”
CNBC reports that Deutsche Bank is raising its rating on Netflix shares to buy from hold, as the bank stated that Netflix was becoming “more like a platform every day,” rather than a standalone app or website. Deutsche Bank analyst Bryan Kraft wrote in an investors note this week: “Platform status brings network effects not available to peers and competitors. Specifically, this is making Netflix even more of a go-to destination when consumers want to watch something, and it means having Netflix is becoming more of a cultural necessity for people around the world.”
Kraft - Netflix - Magnet - Talent - Consumers
Kraft added: “It also makes Netflix a magnet for talent. And it means that consumers stay captive within the Netflix walled garden for significant amounts of time. Aside from pay TV, which is losing audience share, there are no other competing platforms that approach Netflix’s reach.”
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