Netflix has ‘plenty of room to grow,’ says Netflix co-CEO Sarandos By Investing.com
© Reuters. Netflix (NFLX) has ‘plenty of room to grow,’ says Netflix co-CEO Sarandos
Netflix’s (NASDAQ:) co-CEO Ted Sarandos said at the UBS Global TMT Conference on Monday that the company has “a ton more room to grow.”
In his pre-prepared remarks, Sarandos said the streaming giant has “about 15 million” monthly active users on its subscription tier and that, looking ahead, they see opportunities to broaden entertainment options.
Furthermore, Netflix is looking to diversify its revenue pool via advertising.
“I’m very proud of our films, our series and all that growth, but I think there’s plenty of room to grow in terms of constantly improving it,” stated Sarandos. “And we see that through improved engagement across the content that we’re investing in.”
“We’re looking also to diversify our revenue pool through advertising, getting that ad tier to scale,” he added. “Today, we have about 15 million MAUs. It’s grown from – we had 5 million just in May. So you can see the kind of rate of growth that we’re talking about.”
Sarandos believes advertisers on Netflix want to be “as close as they can to the brands that people love,” and he believes the chances that it will happen in entertainment are “much higher on Netflix than anywhere else in the world.”