The past few years have been transformative for streaming platform Netflix (NASDAQ: NFLX). The company has proven it can compete with traditional media companies through the creation of its own original content. Netflix’s burgeoning advertising business has also demonstrated promising results as the company looks to diversify its business beyond streaming subscriptions. Netflix has notably strengthened its subscription and advertising businesses by moving into live entertainment. Let’s explore how live events are the next phase of Netflix’s evolution and how an upcoming event happening on Christmas Day is a major catalyst that could send the stock market parabolic into the new year. When it comes to live events, Netflix has deliberately chosen to focus on one specific area for now: sports. As a sports fan, I think this move by Netflix makes perfect sense.Continue readingMore articles on MotleyFool More articles on MotleyFool