What's Their Growth Strategy?

Doubling Advertising Revenue

Netflix has stated their goal is to double advertising revenue in 2025... they don't specifically call out advertising revenue in 2024, but it's estimated that it's around $1.3B in 2024 (total revenue was $39B, so doubling doesn't move the needle tooooo much)

Global Market Expansion

300M globally. Their content catalog gives billions of dollars worth of content for a few bucks a month-- I believe they will continue to expand globally really well. It's amazing to see their success producing content internationally (Squid Games)

Investments in Gaming

This has been promised for awhile, but I feel like they haven't lived up to their expectations. This could be a huge growth area (video games are cash cows), but I don't think they have the infrastructure to support serious gaming

Live Sports and Events

This is the most exciting for me as a netflix subsriber (and potential investor). WWE coming to Netflix, the Paul v Tyson fight, John Mullaney's Everybody's Live show.. I feel like they have a huge untapped market, but I'm not sure how much it'll move the needle. I wish they gave more guidance on this.

Overall, I like their growth strategy, but even though I haven't checked their current P/E ratio, I feel like a lot of this upside will be baked into the valuation.