Raymond James raises Fulgent Genetics stock price target to $36 on strong performance
Investing.com -- iHeartMedia (NASDAQ:IHRT) stock surged 27% after Bloomberg News reported that Netflix (NASDAQ:NFLX) is in discussions to license video podcasts from the media company.
According to people familiar with the matter, Netflix is seeking exclusive rights to video versions of iHeartMedia’s popular podcasts, which would prevent full episodes from being uploaded to YouTube. The streaming giant appears to be making strategic moves to compete more directly with YouTube in the video podcast space.
iHeartMedia distributes several well-known podcasts including "The Breakfast Club," "Las Culturistas," "Jay Shetty Podcast," and "Stuff You Should Know." However, sources indicate that if a deal materializes, iHeartMedia might not make its entire podcast portfolio available to Netflix.
The potential partnership could significantly expand Netflix’s audio-visual content offerings while providing iHeartMedia with a new distribution channel and revenue stream. Neither company has officially commented on the reported discussions.
The talks come as streaming platforms continue to diversify their content strategies, with podcasts representing a growing segment of digital media consumption.