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Netflix's (NFLX) made its NFL debut with two games on Christmas Day, complete with a halftime show performance by Beyonce. Manhattan Venture Partners head of research Santosh Rao joins Brian Sozzi and Brad Smith to discuss the streaming giant's push into live sports and what it means for the company as well as investors.
"This was a great home run for [Netflix's] ad business," Rao says, adding, "I think it's really going to bolster their ad tier." He tells Yahoo Finance, "It's all about scale. It's all about monetization, and I think this one was a hit in every which way."
"There's a big slate coming up next year," the analyst notes, explaining, "I have nothing but good praise, and it should provide [a] good tailwind going into 2025 after a strong 2024. So I think this is great in terms of everything, all things considered."
Rao says he views the stock as undervalued "because there's still a long runway ahead," explaining, "They're just getting into live sports."
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This post was written by Naomi Buchanan.