Earlier this week, the Wall Street Journal reported on Netflix‘s internal long-range financial targets. On Netflix’s earnings interview Thursday, co-CEO Ted Sarandos addressed the report — which he did not dispute, but emphasized that it is “not the same as a forecast.”
By 2030, Netflix is aiming to hit a $1 trillion market capitalization, while doubling its revenue from $39 billion in 2023 and tripling its operating income from last year’s $10 billion, the Journal reported, citing company sources. The company is also targeting $9 billion in global ad sales by 2030 and hopes to hit about 410 million subscribers worldwide by then (up from 301.6 million at the end of last year), per the report.
“Look, we have a unique culture,” Sarandos said Thursday on the earnings interview with senior execs, noting that company leaders openly share information with employees. “It has served us very, very well,” he said. “On rare and very disappointing occasions, our confidential and internal discussions can leak into the press.”
Netflix “wouldn’t normally comment” on such leaked information, Sarandos said, but “we want to be extra-clear about this. We often have internal meetings and we talk about long-term aspirations, but it’s important to note this is not the same as a forecast.”
“We don’t have a five-year forecast or five-year guidance,” he continued. “But you can assume that we’re long-range thinking and that we’re working hard every day to build the most loved and valued entertainment company for all our stakeholders.”
For the first quarter of 2025, Netflix beat Wall Street financial expectations with revenue of $10.54 billion, up 12.5%, and earnings per share of $6.61 (up from $5.28 a year prior). It was the first quarter Netflix stopped reporting subscriber counts, as the company says it wants to focus investors on financial and user engagement metrics.
In addition, Netflix said co-founder Reed Hastings would step down from his executive chairman role and going forward will serve as chairman in a non-executive director position.
