NEW YORK, September 2, 2026, 12:01 EDT — Netflix (NFLX.O) shares climbed 1.6% after the company confirmed a five-game NFL package, a move seen as a challenge for Netflix’s efforts to attract more advertising revenue.
- Netflix shares gained 1.57% to $82.08 as of 12:01 EDT, having earlier climbed to $83.12.
- EverPass is set to deliver Netflix’s five NFL games in 2026 to commercial locations across the United States.
- Live programming accounts for slightly more than 5% of content expenditure while generating approximately 1% of total viewing hours.
- Advertising revenue for the second quarter increased by 79.8% to $618 million, falling 7.2% short of consensus estimates.
Shares of Netflix NASDAQ:NFLX climbed 1.57% on Wednesday as investors responded to a wider NFL distribution agreement. The deal offers a new commercial trial for the company’s live-sports approach.
At 12:01 EDT, the stock was changing hands at $82.08. Despite the recovery during the session, it stayed 35.2% under its 52-week peak Yahoo Finance.
Netflix intraday price
Source: Yahoo Finance. Snapshot, not a live feed.
On Tuesday, EverPass revealed a multi-year deal to distribute five NFL games shown on Netflix, as well as NFL Honors, to bars, restaurants and hotels across the United States EverPass release.
The schedule opens on September 10 as San Francisco faces Los Angeles in Melbourne. Financial details remain undisclosed. EverPass CEO Alex Kaplan described the service as a “simple, authorized way” for venues to access premium events.
Why Netflix tolerates low live viewing hours
Management’s 2026 content mix shows live programming working as an acquisition and advertising tool.
Source: Netflix Q2 shareholder letter and earnings transcript, July 16, 2026.
The uneven composition has implications for advertising. Ad revenue in the second quarter climbed 79.8% year-on-year to $618 million, falling short of Visible Alpha consensus by 7.2% S&P Global Market Intelligence.
Netflix maintained its full-year ad revenue projection close to $3 billion. The company also projects total revenue between $51.0 billion and $51.4 billion, with an operating margin of 31.5%.
Profit remained more resilient than cash flow in the June quarter. Operating income increased by 11.1% to $4.19 billion, while free cash flow dropped 32.7% to $1.53 billion.
Co-CEO Greg Peters described the difference in revenue per member between the ad-tier and standard plan as “near-term underrealized revenue growth.” He told analysts that improvements in fill rates and measurement are expected to close the gap.
Wall Street maintains a positive outlook, though projections differ significantly. According to the latest S&P Global breakdown, there are no sell ratings and 16 out of 51 recommendations are holds Stock Analysis.
Analyst recommendations
51 analysts · distribution and targets last updated August 25, 2026
Source: S&P Global Market Intelligence via Stock Analysis. Targets are opinions, not guarantees.
Netflix was trading at $82.08, representing a multiple of 22.9 to the 2026 consensus EPS estimate of $3.59. The mean price target of $93.66 indicated a potential upside of 14.1%. This gap hinges on performance.
Engagement continues to connect sports and revenue opportunities. Members viewed over 97 billion hours during the first half, marking a 2% increase. Six out of the ten highest signup days in the past five years were driven by live events.
Risks: Costs for NFL rights and production could increase more quickly than venue earnings. Lower advertising fill, reduced engagement, or delayed growth in membership might further pressure the valuation.
The next scheduled test is set for September 10 in Melbourne. Investors are monitoring if signups tied to the event lead to sustained advertising and ongoing cash flow.
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