Netflix shares close higher after Paul-Tyson fight

Investing.com
Updated
Mitrade
coverImg
Source: Shutterstock

Investing.com -- Netflix closed higher Monday as the streaming giant hailed the live streaming boxing match between YouTube star Jake Paul and former heavyweight world champion Mike Tyson a "huge success" despite technical issues.

The fight hit a peak of 65 million viewers, according to Netflix, but the sheer number of users caused challenges for the streaming giant, with users complaining about stream quality, resulting in buffering, frozen screens, and connection issues.

The technical issues were acknowledged by Netflix CTO Elizabeth Stone in a memo to employees, Bloomberg reported.  

“This unprecedented scale created many technical challenges, which the launch team tackled brilliantly by prioritizing stability of the stream for the majority of viewers,” Stone said in the memo seen by Bloomberg. 

While the fight didn't quite live up to expectations as Paul, 31, claimed a victory against Tyson, 58, via unanimous decision, the event on Friday was hailed a success by Stone despite the streaming issues. 

"We don’t want to dismiss the poor experience of some members, and know we have room for improvement, but still consider this event a huge success," Stone said in the memo. 

Netflix Inc (NASDAQ:NFLX) closed more than 2% higher on Monday.

* The content presented above, whether from a third party or not, is considered as general advice only.  This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.

goTop
quote
Do you find this article useful?
Related Articles
placeholder
Jensen Huang Leads as Nvidia Executives Cash In Over $500 Million Amid Record Highs This MonthNvidia's filing with the SEC on June 26 revealed that since June 20, CEO Jensen Huang has sold a total of 300,000 Nvidia shares, valued at nearly $44.9 million.
Author  TradingKey
20 hours ago
Nvidia's filing with the SEC on June 26 revealed that since June 20, CEO Jensen Huang has sold a total of 300,000 Nvidia shares, valued at nearly $44.9 million.
placeholder
Circle and KakaoPay Shares Tumble 20% — Stablecoin Stock Rally Faces Valuation Reality CheckA strong rally in stablecoin-related stocks swept the markets in June, with shares of Circle (CRCL.US) and KakaoPay (377300.KS) more than doubling amid rising investor optimism.
Author  TradingKey
20 hours ago
A strong rally in stablecoin-related stocks swept the markets in June, with shares of Circle (CRCL.US) and KakaoPay (377300.KS) more than doubling amid rising investor optimism.
placeholder
Coinbase Hits New All-Time High — Outpaces Bitcoin with 38% Monthly SurgeCoinbase (COIN), the largest U.S.-based crypto exchange, has soared more than 38% over the past month, breaking its previous all-time high set in November 2021.
Author  TradingKey
Jun 27, Fri
Coinbase (COIN), the largest U.S.-based crypto exchange, has soared more than 38% over the past month, breaking its previous all-time high set in November 2021.
placeholder
US stock futures open with a new all-time high as Bitcoin stumblesStock futures in the United States opened Thursday night flat, but the S&P 500 still managed to press its face against a fresh record.
Author  Cryptopolitan
Jun 27, Fri
Stock futures in the United States opened Thursday night flat, but the S&P 500 still managed to press its face against a fresh record.
placeholder
Nvidia rose 4% on Wednesday, hits a new all-time highNvidia closed Wednesday as the strongest stock on the board, rising 4% and hitting a new all-time high, while the rest of the market barely moved.
Author  Cryptopolitan
Jun 26, Thu
Nvidia closed Wednesday as the strongest stock on the board, rising 4% and hitting a new all-time high, while the rest of the market barely moved.