- On a day when reports of MSO talks have helped Netflix (NFLX +6.3%) shoot higher, the FT reports the streaming giant is partnering with Nokia to offer 6-12 months of free service to U.K. buyers of Nokia's Lumia Windows Phones.
- Vodafone subs buying Lumias will get a free one-year subscription; sources tell the FT the promo is "being funded predominantly by Nokia." Consumers buying Lumias via retailer Phones4U will get free 6-month subscriptions. Nokia is running similar Netflix promos in Finland.
- Strong U.K. growth has contributed to Netflix's international momentum (610K international net adds were seen in Q2). But the company still faces strong competition in the country from Amazon's Lovefilm unit, and also has to contend with BSkyB's streaming services.
- Meanwhile, JPMorgan's Doug Anmuth has raised his Netflix PT to $340 from $290. He expects Netflix to report it closed Q3 with 31M domestic streaming subs (above a guidance midpoint of 30.9M), and is raising his 2015 domestic streaming estimates on account of the business' strong momentum.
- Netflix's Q3 report arrives a week from today.
Netflix strikes U.K. deal with Nokia; JPMorgan lifts PT
Oct 14 2013, 13:12 ET