Disclosure RemovalManagement indicated that beginning in 1Q25, it no longer intends to report quarterly membership numbers and ARM, citing an evolving business model that reflects new revenue streams and monetization levers outside of member growth.
Member AdditionsKey risk includes slowing member additions in developed markets and higher-than-anticipated content costs.
Revenue OutlookNetflix also provided FY24 revenue guidance of 13-15% y/y, slightly below consensus at the midpoint, and increased its FY24 operating margin guidance to 25% (from 24%).