Netflix Stock Slump: Despite Recent Losses, This Streamer Still Dominates
Increased streaming competition has hurt few companies as much as Netflix (NASDAQ: NFLX). Yet, while the company lost over a million subscribers in the first half of 2022, Netflix is still the most influential streaming service in the industry. Here's why.
Netflix released the documentary series Formula 1: Drive to Survive in March 2019 and has premiered new seasons of the show every year since. Each season consists of 10 episodes detailing the highs and lows of the Formula 1 (F1) racing season. The show's immense success has singlehandedly helped popularize a sport that has had trouble breaking into the U.S. market for decades.
Although Formula 1 has enjoyed high viewership abroad for over half a century, the sport has never caught on in the U.S., where NASCAR reigns supreme. The motorsport series has attempted to break into the U.S. numerous times, with American races held sporadically over the years. For instance, Formula 1 Grand Prix races were held in the U.S. from 1989 to 1991, but then no races took place in the country until 2000 as the sport's popularity remained dismal. Additionally, the U.S. recently missed out on hosting Formula 1 events from 2008 to 2011.
Source Fool.com
