Netflix appears to already be reaping rewards from its big night at Monday’s Primetime Emmy Awards. CNBC reports that the company’s share prices closed about 5% higher Tuesday.
Netflix added seven trophies to its Emmys haul Monday night, more than any other outlet, tying HBO’s total of 23 Emmys this year when the Creative Arts Emmys are added in. HBO had previously been alone at the top among network award winners for 16 years.
Netflix’s “The Crown” wound up with five Emmys, and other Netflix shows including “Godless,” “Black Mirror” and “Seven Seconds” won in key categories.
“Netflix has been doubling down on its original content budget, spending up to $8 billion on original content in 2018,” CNBC reports. “It is estimated to have around 1,000 original series by the end of this year.”
Netflix received a total of 112 Emmy nominations this year, four more than HBO.
“Though prices have fluctuated throughout the year, Netflix shares are still up more than 90 percent year-to-date,” CNBC notes.