January 21, 2025
Release Date: January 21, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
Q : Has there been any disruption to Netflix's LA-based productions due to the wildfires, and what is the impact on cash content spending? A : Theodore Sarandos, Co-CEO, stated that while the wildfires have caused significant disruption in people's lives, there have been no meaningful delays in project delivery or impact on cash content spending for 2025.
Q : Did the 19 million subscriber additions primarily come from events like Jake Paul and Christmas Day football games? A : Gregory Peters, Co-CEO, explained that the subscriber growth was broad-based across content categories and regions, with no single title driving the majority of acquisitions. The overall service performance contributed to the growth.
Q : How does Netflix plan to handle FX volatility and its impact on margins? A : Spencer Neumann, CFO, mentioned that Netflix hedges about 50% of its non-US dollar revenue on a rolling 12-month basis to smooth FX impact. The focus remains on managing operating results through natural hedges, pricing, and cost structure.
Q : What are the learnings and hurdles for advertising monetization in 2025? A : Gregory Peters highlighted that Netflix's ad-supported plan has seen significant growth, with engagement levels similar to non-ad plans. The focus is on improving the offering for advertisers to increase monetization, with plans to double ad revenue again this year.
Q : Does the success of NFL games influence Netflix's interest in full-season sports rights? A : Theodore Sarandos stated that while live events, including sports, are part of Netflix's strategy, the economics of full-season sports rights remain challenging. Netflix is open to exploring opportunities if the economics work for both parties.
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
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