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Bank of America thinks an upcoming Netflix (NFLX) series could have the same effect on golf as the hit Drive to Survive did for Formula 1 racing when it threw a bright spotlight on the sport and increased its popularity almost instantly.
Full Swing is an upcoming documentary series that is set to be released on the streaming service on February 15. The documentary series follows a group of professional golfers on and off the course through the 2022 PGA Tour season, including all four major tournaments.
Analyst Alexander Perry and team noted the golf industry benefitted from a significant uptick in participation as a result of COVID-19 shift to solitary leisure activities, but also pointed out that golf popularity as measured by TV viewership of the Masters and Topgolf Callaway Brands (NYSE:MODG) club sales are actually down vs. the late 1990s.
“We believe Full Swing should drive increased popularity to the industry, helping to partially offset 3 years of tough comparisons as well as potential headwinds from an economic downturn.”
Full Swing is expected to help attract a younger demographic to golf, which could help golf-related stocks like Topgolf Callaway (MODG), Acushnet Holdings (NYSE:GOLF), and Dick’s Sporting Goods (NYSE:DKS).
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