What’s Driving These Estimates
💡 A) Subscriber Base & Pricing Power
• Subscriber growth — especially internationally — remains a top revenue driver. Netflix reported strong membership gains earlier in the year and expects steady additions into Q4. 
• Strategic price increases on key tiers (Standard/Premium) have boosted ARPU (average revenue per user), which supports margin expansion. 
📺 B) Content Strength & Engagement
• Streaming hits like Stranger Things and global originals drive engagement and reduce churn.
• Live sports and event programming have improved stickiness and broadened appeal.
📊 C) Advertising Monetisation
• Netflix’s ad-supported tier has become a meaningful revenue stream (with rapid subscription growth). 
• Ad revenue is expected to roughly double in 2025, playing a key role in revenue acceleration and margin support. 
• Analysts watch whether ad growth offsets any churn from higher-priced subscription plans. 
📦 D) Pricing & Currency Effects
• Pricing changes and a favorable foreign-exchange backdrop are helping revenue on both a nominal and FX-neutral basis.
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