Netflix's core business continues to chug along as the rest of the media and entertainment industry searches for new growth.
's NBCUniversal both said 2023 will be the biggest annual loss ever for their streaming businesses.
Next quarter, Netflix forecast subscriber gains will be about 6 million again. The company said revenue will accelerate in the second half of the year as it sees "the full benefits" of its password-sharing crackdown and steady growth in its ad-supported plan.Last year, Netflix's valuation dropped by 60% as streaming subscriber growth came to a halt.
"The lack of references to video games in its shareholder's letter suggests advertising is the shiny object that most commands the company's focus," said Ross Benes, an analyst at research firm Insider Intelligence.
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