Netflix's NFL Push Extends Beyond Living Rooms as Shares Keep Climbing

Netflix partners with EverPass to bring NFL games to bars, expanding sports reach. Stock up 12% in 30 days; analysts eye Q3 results.

The streaming giant's latest moves in live sports are targeting a venue most investors rarely consider: the neighborhood bar. Netflix has inked a multi-year agreement with EverPass Media to distribute its NFL game broadcasts to commercial establishments across the United States, opening a licensing channel that lets restaurants and pubs screen the company's football coverage for patrons.

The arrangement arrives as Netflix's share price continues its steady ascent, with the stock closing Wednesday's German trading session at EUR 71.42, up 2.4 percent on the day. That extends a 30-day winning streak that has lifted the equity by 12 percent, though the relative strength index of 63.9 suggests the rally has yet to enter overbought territory.

A Football Calendar Taking Shape

The commercial distribution deal covers a slate of marquee matchups already locked in for the current season. The schedule kicks off on September 10 when the San Francisco 49ers meet the Los Angeles Rams in Melbourne, followed by additional contests in November and December, including a doubleheader on Christmas Day. Looking further ahead, Netflix will carry a Week 18 game in January 2027 alongside the NFL Honors ceremony the following month.

Notably, DAZN is acquiring EverPass and will operate the business under the banner DAZN for Business. EverPass CEO Alex Kaplan has emphasized the significance of the tie-up for expanding the league's commercial footprint.

The sports push is being reinforced on the talent front as well. Netflix has brought on board Tom Pelissero, the NFL insider and sideline reporter, through a collaboration with Spotify's The Ringer. Pelissero is slated to work across all of Netflix's NFL broadcasts this coming season.

Weighing the Cost of the Sports Bet

Analysts increasingly view the live-sports strategy as a growth engine that could sit alongside the company's advertising business, helping to diversify how Netflix monetizes its platform. Yet the approach carries meaningful costs, and industry observers such as Michael Wolf of Activate have cautioned about the escalating price of sports rights licenses.

That tension is visible in the analyst community's current stance. The average price target stands at roughly USD 96.65, but the consensus is far from uniform. Some houses flag the stock's valuation as stretched given a forward price-to-earnings ratio of 22.49, well above the sector average of 11.1. For the current fiscal year, analysts project earnings per share of USD 3.59, a 41.9 percent jump from the prior year, on expected revenue of USD 51.25 billion.

The company's most recent quarterly results provide some context for those figures. The second quarter delivered USD 12.56 billion in revenue, up 13 percent year over year, and management has set an ambitious target of reaching USD 30 billion in advertising revenue by 2026.

Content Pipeline and Gaming Pivot

Beyond the gridiron, Netflix's content engine continues to generate momentum. The exclusive 27-minute preview for "Grand Theft Auto VI" racked up 31.1 million views within its first week, topping charts in 87 countries before adding another 17 million views on YouTube. Reports indicate Netflix paid developer Take-Two roughly USD 100 million for that promotional partnership. The move reflects a broader strategic shift in gaming: after shuttering its internal development studios Night School and Moonloot in August, the company appears to be leaning toward licensing established titles rather than building its own.

The second season of "The Gentlemen" premiered Thursday, following a first season that drew approximately 100 million views. In the film division, the Spanish-language action thriller "Facing El Chapo," directed by Chava Cartas, led the non-English movie charts with 20.7 million views in the week ending August 30.

On the corporate governance front, Netflix disclosed several option grants to executives and directors in early September, including awards to Jay Hoag, Strive Masiyiwa, and Chief Accounting Officer Jeffrey Karbowski. The grants carry an exercise price of USD 80.81 and run through 2036 — routine compensation practice that analysts say carries little weight for the fundamental valuation.

What Investors Are Watching

The stock's recent run has drawn attention from prominent voices on Wall Street. Jim Cramer rated the shares a moderate buy on "Mad Money" last Thursday, pointing to recent leadership changes and steady growth metrics. Institutional interest remains robust, with 122 hedge funds holding positions in the company as of the second quarter.

The central question for shareholders now is whether the dual-pronged strategy of sports licensing and advertising can translate into durable revenue expansion. The upcoming third-quarter report — with analysts expecting USD 12.88 billion in sales and EPS of USD 0.82 — will offer the first clear read on whether that bet is paying off.