Streaming giant Netflix (NFLX) is now expanding into merchandising and live events. Until recently, Netflix hadn’t focused much on consumer products or immersive experiences. However, that’s changing fast. In January, Netflix signed a deal with Jazwares, makers of Squishmallows, to create toys for Stranger Things. It also teamed up with Hasbro (HAS) and Mattel (MAT) to make merchandise for the animated movie KPop Demon Hunters.
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Netflix is also opening physical spaces for fans to explore its shows in real life. Its first Netflix House just launched in Philadelphia with live performances, themed dining, games, and interactive attractions. A second location will open in Dallas in December, with one planned for Las Vegas in 2027. These experiences build on Netflix’s growing library of original content, which began in 2012 with Lilyhammer and took off in 2013 with House of Cards.
Analysts say that Netflix is finally reaching the point where it can fully tap into its popular content with branded products and fan events. Indeed, the company has hosted Stranger Things attractions in cities around the world and Bridgerton balls where guests dress up in Regency-style outfits. It also offers mobile games and in-game items for titles like Stranger Things and KPop Demon Hunters through Fortnite.
Is NFLX Stock a Good Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on NFLX stock based on 26 Buys, seven Holds, and one Sell assigned in the past three months, as indicated by the graphic below. Furthermore, the average NFLX price target of $139.74 per share implies 22.9% upside potential.
