Netflix film reports actor google Enterprise UPS Netflix

Netflix: Lower Content Spend Due To Strikes Leads To Free Cash Flow Boost As Streamer Takes Swipe At Rivals Over Ratings Transparency

Reading now: 921
deadline.com

Netflix has found itself with cash to spend thanks to the writers and actors strike. The company said that it would spend less on content that it “originally anticipated” this year as a result of the WGA and SAG-AFTRA walkouts as well as “timing of production starts”.

As a result, it anticipates at least $5B in free cash flow for 2023, well up from its previous estimate of $3.5B. This comes after it generated $1.3B in its second quarter, compared with a breakeven a year ago.

While the streamer admitted this may “create some lumpiness” on free cash flow from 2023 to 2024, it added that it plans to “deliver substantial positive” free cash flow in 2024.

This comes as it added 5.9 million global subscribers, reaching 238.3 million, with password sharing pushing subscribers to the months-old $7-a-month plan with advertising.

Read more on deadline.com
The website starsalert.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA