Ads continue to drive the company's revenue.) stock has been riding a wave of growth, with the price climbing steadily for over two years. This momentum has been fueled by a surge in new subscriptions and a strong push into advertising revenue.
Since launching its $6.99 ad-supported tier in 2022, the streaming giant has seen a noticeable boost in profits. With today's Q3 2024 earnings report looming, investors are eager to see if the global streaming giant can maintain its upward trajectory. The company is expected to post record revenue, supported by a flurry of upward revisions. However, the stock has recently pulled back, hovering around the critical $700 support level.As competition in the streaming space intensifies, Netflix has leaned into sports broadcasting and live events, including NFL games, to broaden its content offerings.In Q2, ad-supported subscriptions jumped 34% year-over-year, underscoring the company's ability to tap into a new revenue stream.
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