Netflix had a terrific quarter as the streaming giant went back in time to growth mode. YoY Revenue growth was 7.8% and now forecasting 10.7% growth for Q4 (all of this in the midst of a writers and actors strike). Netflix continues to dominate screen time as a % of screen time for streamers with more screen time than Prime, and Hulu combined. Adding successful prior shows for content like Suits, Friends and the Office continues to show how Netflix is dedicated to getting content to viewers with a massive moat and footprint. A new segment that Netflix has recently jumped into is advertising growth and now accounts for 30% of all new signs in the 12 countries that they provide advertising in and this coincides with 70% QoQ growth as well. New season releases of major hits Squid Game and Stranger Things slated for 2024 will generate large revenue gains for Netflix.
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