Jake Paul, a YouTuber-turned-boxer, defeated boxing legend Mike Tyson in the first live boxing event hosted by Netflix Inc. (NASDAQ:NFLX).
What Happened: The event took place at the AT&T Stadium in Arlington, Texas, on Friday, where Paul, 27, won over 58-year-old Tyson in an eight-round heavyweight match via unanimous decision.
The match, sanctioned by the Texas Department of Licensing and Regulation, saw both fighters wearing 14-ounce gloves, a deviation from the standard 10-ounce gloves typically used in heavyweight fights.
The judges' scores were overwhelmingly in Paul's favor, with tallies of 80-72, 79-73, and 79-73.
The fight was initially scheduled for July 20 but was postponed due to Tyson requiring medical attention for an ulcer flareup.
Tyson last competed professionally in 2005 but returned to the ring in a notable exhibition bout against Roy Jones Jr. in 2020, which concluded in a split draw.
Tensions escalated during the weigh-in when Tyson struck Paul.
Why It Matters: This event is a significant milestone for Netflix in its endeavor to expand into live sports content, supplementing its existing portfolio of live comedy stand-ups, award shows, and special events.
The streaming giant currently has over 282 million global paid subscribers, with its ad-supported plan recently reaching 70 million subscribers.
Last month, Netflix reported strong third-quarter financial results. The company's revenue was $9.825 billion, a 15% increase year-over-year, beating the Street consensus estimate of $9.769 billion.
This successful foray into live sports content could potentially boost Netflix's subscriber base and revenue in the future.
Price Action: Netflix shares ended Friday's trading session down 1.57%, closing at $823.96. In after-hours trading, the stock edged up slightly to $825.50 as of this writing, according to data from Benzinga Pro.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Photo courtesy: Netflix
