News Brief: Netflix’s Ad-Supported Tier Gains Momentum
Summary
Netflix’s advertising business, launched in late 2022, is showing significant progress, contributing over $1.5 billion in revenue in 2025. While growth started slower than some analysts expected, the company reports strong subscriber gains and sees massive future opportunity in its ad-supported tier.
Key Points
- Revenue Growth: 2025 advertising revenue exceeded $1.5 billion (3% of total revenue) and is expected to double in 2026. Overall company revenue grew 16%, with net income up 26%.
- Executive Outlook: Co-CEO Greg Peters stated the ad business is “making good progress and the opportunity ahead of us is massive.”
- Subscriber Growth: Netflix ended 2025 with 325 million global subscribers, a net increase of ~23 million from 2024.
- Analyst Perspective: Analysts noted ad revenue was below some forecasts but welcomed the new transparency. They believe growth is now “hitting its stride.”
- Strategic Shift: Advertising and password-sharing crackdowns are key growth drivers. The revenue gap between ad-free and ad-supported plans is narrowing.
- Market Reaction: Netflix’s stock traded down ~4% following the earnings report.
新闻简报：Netflix广告支持套餐势头增强
总结
Netflix于2022年底推出的广告支持业务正取得显著进展，在2025年贡献了超过15亿美元的收入。尽管起步速度慢于部分分析师的预期，但公司报告了强劲的订阅用户增长，并认为其广告支持套餐未来拥有巨大机遇。
关键点
- 收入增长：2025年广告收入超过15亿美元（占总收入的3%），预计2026年将翻番。公司整体收入增长16%，净利润增长26%。
- 管理层展望：联席CEO格雷格·彼得斯表示，广告业务”进展良好，我们面前的机遇是巨大的”。
- 订阅用户增长：Netflix在2025年底拥有3.25亿全球订阅用户，较2024年底净增约2300万。
- 分析师观点：分析师指出广告收入低于部分预测，但对公司提高业务透明度表示欢迎。他们认为增长现已”步入正轨”。
- 战略转变：广告业务和打击密码共享是关键的 growth 驱动力。无广告套餐与广告支持套餐之间的收入差距正在缩小。
- 市场反应：财报发布后，Netflix股价下跌约4%。
Original Article Link: https://www.cnbc.com/2026/01/21/netflix-advertising-revenue-strategy-paying-off.html