Netflix has set out its ambition to double its revenue to $39bn (£29.4bn) in the next five years and grow the number of subscribers by 35%.
Executives at the streaming giant were “optimistic” in revealing growth goals for 2030 with senior staff at an annual business review meeting last month, according to a report in the Wall Street Journal (WSJ).
Besides the ambitious revenue target, senior leaders said the aim was to triple Netflix’s operating income of $10bn (£7.6bn), according to people who attended the meeting.
Additionally, the execs set out a push to grow the number of subscribers around the world from just over 300m last year to 410m in 2030, after Q4 2024 which brought in a record 18.9m subscribers internationally. The focus will be on growing the subscription base outside of the crowded US market, the WSJ reported, in territories with high broadband penetration including India and Brazil.
They also disclosed the ambition to earn about $9bn (£6.8bn) in global ad sales. While Netflix does not disclose its ad revenue, estimates suggest US ad revenues at the streamer will top $2.2bn (£1.6bn) in 2025.
The launch of an ad-supported tier in 2022 – as well as moves to raise prices and limit password sharing – has helped the streamer cement its market capitalisation of almost $400bn (£302bn). It now aims to more than double its value to $1tn (£755bn) by 2030, according to the report.
The meeting took place in March, before President Trump revealed plans to introduce tariffs which wiped off trillions of dollars of value on the global stock market. The WSJ warned that further market volatility could complicate the streamer’s growth ambitions, with the ad-market particularly vulnerable.
But, it also pointed out, streaming could be less affected as people choose to stay home and watch TV in a bid to save money. Broadcast Now