Netflix Shares Tumble 7% After Expanded iHeartMedia Podcast Partnership
NFLX•NFLX•NFLX•NFLX•Netflix shares dropped 7% to around $72 following the announcement of an expanded podcast partnership with iHeartMedia that broadens its audio content portfolio. Meanwhile, several brokerage firms have issued fresh buy recommendations on the stock, highlighting potential subscriber growth ahead of its next earnings report.
Netflix shares fell 7% to about $72 after announcing an expanded partnership with iHeartMedia that will deliver new and exclusive podcast series on its platform. The deal aims to enhance Netflix’s audio offerings by integrating iHeartMedia’s catalog of shows and co-producing original content to attract and retain subscribers.
Several brokerage firms issued fresh buy recommendations on Netflix, noting the broadened content strategy and potential subscriber growth ahead of its upcoming earnings report. Analysts emphasized that strengthening the podcast lineup could diversify revenue streams, though they cautioned on content costs and competition in the audio market.
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