Netflix shares fall as streaming service announces more new shows, GBBO rights

Netflix shares fell Thursday as the streaming service announced four new Originals series.It has also acquired the rights to show popular UK Channel 4 show, the Great British Bake Off.

Netflix shares fall as streaming service announces more new shows, GBBO rights

Netflix shares closed in the red Thursday, as the streaming service announced four new unscripted series for its users. It has also acquired the rights to air the UK’s popular Great British Bake Off show, which airs on Channel 4.

The GBBO is known as the Great British Baking Show in the US and previous series have been shown there by PBS.

Netflix shares closed down 1.5% at $339.17 Thursday. In line with other tech stock activity, Netflix is currently a little higher in out-of-hours trading.

More new Originals from Netflix

Netflix announced Thursday that it would show four new unscripted TV shows this year. The new Originals are:

  • The Final Table is a global cooking show featuring well-known chefs.
  • Death by Magic will feature British magician, DMC, as he uncovers the histories of famous magicians who died during dangerous stunts.
  • Sunderland Till I Die will follow Sunderland Football Club’s relegation to the Championship in the UK’s Football league.
  • Flinch is an action comedy game show where participants have one goal - not to flinch.

“We are looking for stories that resonate globally,” said Netflix VP of unscripted originals and acquisitions, Brandon Riegg. “We are a US company, but global network.”

Netflix wins GBBO rights

In addition to the new selection of unscripted shows, Netflix has also won the rights to show the UK Channel 4 series of the Great British Bake Off, in the US.

The latest series of the show, which is known as the Great British Baking Show, in the US, begins in the UK in the last week of August. The show will be available for steaming in the US from August 31.

The announcements highlight Netflix continued ambition to produce a variety of programming for its still growing user base. The streaming service is set to invest some $8 billion on its content during 2018, including around 700 new series.

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