Netflix feels it has the fiscal headroom to spend on new content and spend big! According to a report in Variety, it is performing way above expectations, so they will be opening the taps.
The report quotes Netflix CFO Spencer Neumann and his speech to the 2025 Morgan Stanley Tech, Media & Telecom Conference on Wednesday. Neumann says:
“We’re not anywhere near a ceiling, I think we are still just getting started.”
$18 billion would represent an 11% increase. Their end-of-year figures revealed a 301.6 million membership base, but over 700 million worldwide watch Netflix content.
Their subscribers grew by 18.9 million net new global subscribers, which was double their published target, and for the full year, they were almost 40% up on the previous year.
Neumann did drop a staggering figure – Netflix is now present in around 40% of connected TV households globally.
Remember when Blockbuster turned down the chance to buy Netflix? Their price of $50 million was flat-out rejected by John Antioco, CEO of Blockbuster, who deemed Netflix a niche business and said “the dot-com hysteria is completely overblown.”
Netflix is now worth north of $150 billion. The current top show in this month’s rankings is their Robert De Niro exclusive Zero Day.