Netflix flips the streaming script again with a return to growth mode
Publishing timestamp: 2023-10-18 17:56:59
Summary
Netflix shares surged after reporting stronger-than-expected subscriber gains and projecting similar gains for the next quarter. This marks the end of a period of low growth for the company. The introduction of a cheaper advertising-supported tier and a crackdown on password sharing contributed to the increase in subscribers. Netflix's focus is shifting towards revenue growth and new revenue streams like advertising. While the stock price is still below previous highs, investors are once again viewing Netflix as a growth opportunity. The long-term impact of the password sharing crackdown on future growth is uncertain.
Sentiment: POSITIVE
Keywords: media, technology, breaking news: business, walt disney co, warner bros discovery inc, netflix inc, business news,
Source: https://www.cnbc.com/2023/10/18/netflix-returns-to-growth-mode.html