Benzinga - A record set by the hit series “Stranger Things” from streaming giant Netflix Inc (NASDAQ: NASDAQ:NFLX) didn’t last long and was broken the week of the Thanksgiving Day holiday.
What Happened: The newly released series “Wednesday” for Netflix set an English language television series record for the week of Nov. 21 through Nov. 27, 2022, breaking a record set by the fourth season of “Stranger Things” in May 2022.
For the week, the eight episodes of “Wednesday” were viewed a total of 341.23 million hours, raking first for the week in the U.S.
The series broke the record of 335 million hours set by “Stranger Things 4” earlier this year.
“Wednesday” ranked in the top 10 of all 93 countries tracked by Netflix and was number one in 83 countries, tying the record set by “Stranger Things” previously.
While it set the English-language record, the new series fell shy of the weekly record of 571.8 million hours viewed, set by “Squid Game” at its peak.
“Wednesday” stars Jenna Ortega as Wednesday Addams in a new take on the classic Addams Family story that has been told on television and in movies. The series centers on Wednesday’s time as a student at Nevermore Academy.
The series is directed by Tim Burton, known for hit films like “Edward Scissorhands,” “Beetlejuice,” “Batman” and “Batman Returns.”
The show could continue to rank well in its second week, as it was only released on Nov. 23 and not available for the whole week. “Wednesday” is currently the top searched show or movie on IMDb, a movie and television database. The show has a 9.5 out of 10 rating on IMDb and has ratings of 70% and 88% from critics and viewers on Rotten Tomatoes.
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Why It’s Important: The streaming market remains highly competitive, with companies like Netflix and The Walt Disney Company (NYSE: NYSE:DIS) launching ad-supported plans to compete with lower-priced competitors and potentially gain new subscribers.
Netflix has had its share of massive hits over the year, with Stranger Things being one of its largest franchises. The emergence of “Wednesday” as a hit could help Netflix in the current quarter.
The streaming giant has additional seasons of “Stranger Things” and “Squid Game” coming, and also additional projects in the works for these franchises.
Netflix ended the third quarter with 223 million global subscribers.
NFLX Price Action: Netflix shares are up 8.75% to $305.53 on Wednesday.
Want to know what the next hit could be on Netflix? A limited series with a unique viewing order format could fit the mold.
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