That makes sense, but it seemed like there was a lot of bad press towards Netflix due to this, and thought the company's outlook was grim.
I do recall a period when the number of subscribers fell off as people returned to work post-covid, and as one can see below, they didn't have the same explosive growth in revenue vs. previous year that they enjoyed during the first 2 years of the pandemic, but they've never had a year (or in the case of the Sept. 2023 stat below, a quarter) where revenues decreased vs. the previous one.
From the interwebs:
Netflix Revenue 2010-2023 | NFLX
Netflix annual/quarterly revenue history and growth rate from 2010 to 2023. Revenue can be defined as the amount of money a company receives from its customers in exchange for the sales of goods or services. Revenue is the top line item on an income statement from which all costs and expenses...
www.macrotrends.net
- Netflix revenue for the quarter ending September 30, 2023 was $8.542B, a 7.77% increase year-over-year.
- Netflix revenue for the twelve months ending September 30, 2023 was $32.743B, a 4.03% increase year-over-year.
- Netflix annual revenue for 2022 was $31.616B, a 6.46% increase from 2021.
- Netflix annual revenue for 2021 was $29.698B, a 18.81% increase from 2020.
- Netflix annual revenue for 2020 was $24.996B, a 24.01% increase from 2019.