Netflix shares close higher after Paul-Tyson fight

Investing.comNov 19, 2024 12:17 AM

Investing.com -- Netflix closed higher Monday as the streaming giant hailed the live streaming boxing match between YouTube star Jake Paul and former heavyweight world champion Mike Tyson a "huge success" despite technical issues.

The fight hit a peak of 65 million viewers, according to Netflix, but the sheer number of users caused challenges for the streaming giant, with users complaining about stream quality, resulting in buffering, frozen screens, and connection issues.

The technical issues were acknowledged by Netflix CTO Elizabeth Stone in a memo to employees, Bloomberg reported.

“This unprecedented scale created many technical challenges, which the launch team tackled brilliantly by prioritizing stability of the stream for the majority of viewers,” Stone said in the memo seen by Bloomberg.

While the fight didn't quite live up to expectations as Paul, 31, claimed a victory against Tyson, 58, via unanimous decision, the event on Friday was hailed a success by Stone despite the streaming issues.

"We don’t want to dismiss the poor experience of some members, and know we have room for improvement, but still consider this event a huge success," Stone said in the memo.

Netflix Inc (NASDAQ:NFLX) closed more than 2% higher on Monday.

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