27.04.2020 NETFLIX Daily Analysis

27.04.2020 NETFLIX Daily Analysis

In New developments, Netflix said that they will be cutting their content budget by about 10% for this year. Netflix just like the rest of the media companies has had to put a halt to production and shooting of new movies this year because of the Covid-19. So far the content for 2020 is pretty much in a good place because most of the movies and TV shows set to be released this year had already been shot and the only bit remaining was the editing which the Netflix personnel are doing from home. So for your favorite shows, you will still be seeing them. The only issue is 2021. It takes time to shot most of these content and with production down for the time being next year might be a little tricky for the company. Guess we'll cross that bridge when we get there. Netflix closed on Friday at $424.99 and is set to open on Monday at almost the same position.