With corners of the media industry in upheaval, Netflix makes clear it's staying out of the fray
Netflix’s second-quarter earnings report contained no bombshells, and that’s just fine for the company and its investors.
Netflix’s second-quarter earnings report contained no bombshells, and that’s just fine for the company and its investors.
In recent weeks, Paramount Global has agreed to merge with Skydance Media. Warner Bros. Discovery is considering all options for its future and may lose broadcast rights to the NBA.
While the media and entertainment landscape around Netflix is in a state of change, the world’s largest streamer is fine with the status quo.
“If we execute well — better stories, easier discovery and more fandom — while also establishing ourselves in newer areas like live, games and advertising, we believe that we have a lot more room to grow,” Netflix said in its quarterly shareholder letter. “Because when we delight people with our entertainment, Netflix can drive higher engagement, revenue and profit than the competition. This in turn creates a more loved and valued entertainment company — for our members, creators and shareholders — that we can strengthen and grow over time.”
Netflix classified the streaming, pay TV, film, gaming and branded advertising market as a $600 billion industry in terms of total annual sales, noting the company accounts for about 6% of that revenue.
Rating: 5