Netflix Inc (NFLX  ) stock traded higher by almost a percent on Monday as buyers lean into relative strength in Communication Services even while the broader tape stays risk-off. The Nasdaq is down 1.14% while the S&P 500 has shed 0.40%.

The streaming giant is expanding its streaming strategy as it explores third-party partnerships, faces growing limits on subscription price increases and intensifies its battle with Alphabet Inc (GOOGL  ) (GOOG  ) YouTube for top creators and younger viewers.

Netflix Explores Broader Streaming Partnerships as Competition Intensifies

Netflix executives have discussed bringing third-party streaming services such as Peacock and Fox One into the Netflix app, although no deal is imminent.

Co-CEO Greg Peters said the company is seeing "promising" results from its TF1 partnership in France and would consider similar arrangements if they benefit Netflix, its members and partners, the New York Times reported on Monday.

Pricing Pressure Tests Subscriber Limits

Netflix and other major streamers have raised subscription prices sharply in Western Europe, although Ampere Analysis senior research manager Jaanika Juntson said the size of price increases is falling as consumers approach their willingness-to-pay limits, the Guardian reported on Monday.

Netflix U.K. revenue reached 2.06 billion pounds ($2,808,624,929) last year, up 11%, while pre-tax profit rose to 72.5 million pounds ($98,847,236).

YouTube Pushes Back Against Netflix's Creator Strategy

Netflix is also pursuing popular YouTube creators to attract younger audiences and increase viewing time. In response, YouTube has discussed paying major channels for temporary exclusivity and reducing marketing support for creators who simultaneously distribute content on Netflix, highlighting intensifying competition between the two platforms, Bloomberg reported on Thursday.

Top ETF Exposure

  • State Street Communication Services Select Sector SPDR ETF (XLC  ): 4.52% Weight
  • REX FANG & Innovation Equity Premium Income ETF (FEPI  ): 6.68% Weight
  • Monarch Blue Chips Core Index ETF (MBCE  ): 4.54% Weight
Significance: Because Netflix carries such a heavy weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.

NFLX Price Action

Netflix shares were up 0.74% at $80.18 at the time of publication on Monday, according to Benzinga Pro data.