Yahoo Finance Netflix's (NFLX) The Victims' Game Set to Return on Jun 21
Netflix’s NFLX highly anticipated crime thriller series, The Victims’ Game, is set to return for a second season on Jun 21, after a four-year wait. This series, renewed by Netflix, promises a new season filled with unexpected and suspenseful murder cases linked to an incident from 15 years ago.
Chang Hsiao-chuan reprises his role as Fang Yi-jen, a forensic detective with Asperger’s syndrome who finds himself a prime suspect in the new series of crimes. Chang highlights Fang Yi-jen’s character development, for proving his innocence and fostering a sense of belonging. This season challenges both the character and the actor, as Fang navigates tricky situations to clear his name.
The series is led by executive producer Hank Tseng and features the return of key cast members along with new international talent. Notably, Taiwan singer Tarcy Su, Japan actor Dean Fujioka and Hong Kong actor Lau Chun-him Terrance join the cast.
Shares of this Zacks Rank #1 (Strong Buy) company have gained 31.6% year to date against the Zacks Consumer Discretionary sector’s 1.9% decline. The outperformance can be attributed to the success of its Japan content. You can see the complete list of today’s Zacks #1 Rank stocks here.
Netflix, Inc. Price and Consensus
Netflix, Inc. price-consensus-chart | Netflix, Inc. Quote
NFLX Faces Tough Competition in Japan’s Video-On-Demand Market
NFLX faces stiff competition in Japan’s video-on-demand market, which was valued at 505.4 billion yen in 2023. This marked a 12.1% increase year over year, per a report from GEM. This upward trajectory has been ongoing since 2020, with steady expansion attributed to heightened interest in home entertainment amid the COVID-19 pandemic.
Some other notable players in Japan’s video-on-demand market are Amazon AMZN Prime Video, U-Next, Disney DIS and Warner Bros. Discovery WBD.
Amazon recently enjoyed success with Japan survival thriller series Acma: Game, which premiered on Apr 7, 2024. Building on this success, Amazon plans to release the second season of The Silent Service – The Battle of Tokyo Bay and a live-action-drama adaptation of OSHI NO KO globally in winter 2024.
U-NEXT has emerged as a formidable competitor in the streaming market, consistently increasing its market share. In 2022, it surpassed Amazon Prime Video to become the second-largest player in the market. U-NEXT's growth accelerated significantly after its merger with Paravi in July 2023.
Disney is focusing on producing Japan’s content to expand its market presence. Its first Japan anime series, The Fable, was released earlier this year. Disney also has other exciting projects in the pipeline, including Dragons of Wonderhatch and Tokyo Revengers: Tenjiku Arc.
Warner Bros. Discovery is expanding its footprint in Japan through a partnership with local telecommunications company J:COM. They have collaborated with DC to produce a Japan anime series titled Suicide Squad Isekai, scheduled for release in July 2024. Additionally, Warner Bros. Discovery has announced plans to produce more than 10 anime series per year.
Despite experiencing slight declines in market share over the past two years, NFLX has remained the dominant player in Japan's SVOD market since 2019. The increasing demand from Japan has led management to invest more in the region. Upcoming Japan’s content from the company includes titles such as Agents of Mystery, Doctor Climax and Hierarchy. These releases are expected to boost its APAC revenues in the upcoming quarters.
The Zacks Consensus Estimate for NFLX's 2024 APAC revenues is pegged at $4.24 billion, indicating 12.8% growth from the year-earlier actuals. The consensus mark for earnings is pegged at $18.3 per share, suggesting 52.12% growth from a year ago.
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