Ad-Supported GrowthThe introduction of the ad tier clearly has limited churn, lowering pressure on adding new subscribers, with around 30 million accounts converting to the ad tier in the past six months.
Live Programming SuccessThe disclosure of 60M households watching the Paul - Tyson fight is viewed as a major breakthrough for NFLX's live events strategy and a catalyst for attracting ad dollars away from the $50B+ US Linear TV market.
Subscriber GrowthNetflix's subscriber net additions significantly exceeded consensus expectations, with ads membership growing 35% quarter-over-quarter.