Netflix shares fell as much as 1.5% in early Monday despite news that its continuing to add content partners to beef up its offerings to and ward off the competition. Currently the stock is 0.82% at $170 a share.
ADVERTISEMENT
Netflix is falling despite announcing a content deal with Shonda Rhimes (NFLX)
Netflix stock price is moving as the company makes more moves to beef up its original content.
Shonda Rhimes
Shonda Rhimes, the mind behind hit shows "Greys Anatomy," "How to Get Away With Murder," and "Scandal" has agreed to move future shows to Netflix.
Those existing shows will continue to run on ABC in the US, and Rhimes will continue to work on them, according to a release.
Rhimes has had a close relationship with Netflix in the past, as many of her shows appear on the service after airing on ABC.
ADVERTISEMENT
According to Rhimes, the move to Netflix is part of a plan built with Ted Sarandos, Netflix's Chief Content Officer. "
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
ADVERTISEMENT