About this weblog

What you need to know: This weblog captures key data points about the global telecoms industry. I use it as an electronic notebook to support my work for Pringle Media.

Friday, July 19, 2024

Netflix Talks Up Growth Opportunities


Netflix increased its forecast for revenue growth for 2024 slightly from 13% to 15% to 14% to 15%, after reporting revenue growth of 22% on a currency neutral basis for the second quarter to almost 9.6 billion US dollars. Streaming paid memberships rose 17% to almost 278 million worldwide. 

Citing figures from Nielsen, Netflix claimed that, together with YouTube, it accounts for 50% of all streaming to the TV in the US. However, it also stressed it has plenty of scope to grow: "Across streaming, pay TV, film, games and branded advertising, it’s a 600 billion dollar + market, and today Netflix accounts for just ~6% of that revenue." 

Having launched more than 100 games so far, Netflix says it has 80-plus games in development. It is particularly excited about "interactive narrative games", based on its own intellectual property. Source: Netflix collateral


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