Benchmark聽analyst Matthew Harrigan does not consider聽Netflix Inc.’s suspension of operations聽in Russia a significant blow to the streaming giant’s overall business.
There is “a clear crisis fallout” that could affect Netflix’s stock valuation and international growth numbers, but its Russian subscriber base is paltry compared to other countries and regions.
“The isolated financial effect is minimal,” Harrigan said, noting that “less than an estimated 1 million of [Netflix’s] 222 million [subscribers] reside in the Russian Federation.”
Harrigan聽remained “bullish” on聽the global direct-to-consumer streaming TV market.
However, Harrigan acknowledged that Netflix’s strong position in the streaming TV market was vulnerable to the growing competition.
By Anusuya Lahiri
漏 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.