Netflix shares are trading higher following a report indicating the company's ad tier now has over 23 million monthly active users. It was also reported on Wednesday that Netflix Games downloads increased 180% in 2023.
Portfolio Pulse from Benzinga Newsdesk
Netflix's stock is experiencing an uptick after reports surfaced that its advertising-supported tier has reached over 23 million monthly active users. Additionally, Netflix Games has seen a significant increase in downloads, with a 180% rise in 2023.
January 11, 2024 | 4:08 pm
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POSITIVE IMPACT
Netflix's shares are likely to see a positive short-term impact due to the reported growth in its ad-supported user base and a substantial increase in Netflix Games downloads.
The reported growth in monthly active users for Netflix's ad tier suggests a successful expansion in its revenue streams, which is a positive signal for investors. The surge in Netflix Games downloads indicates increased engagement and potential for further monetization, both of which can contribute to a bullish outlook for the stock in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100