While this year was brutal for many corporations, some are looking forward to exciting developments in 2023 that could help reverse their fortunes. Take streaming giant Netflix (NASDAQ: NFLX), whose shares are down 48% in the past 12 months. The company is making important changes to its business, and some of those tweaks could meaningfully impact its financial results in 2023 and beyond. Let's consider why Netflix is a great stock to buy before the new year starts. 

In the company's third-quarter letter to shareholders, Netflix's management relayed that starting with its next earnings release -- for the fourth quarter of 2022 -- it will no longer provide paid subscriptions guidance. Investors have used this metric for years as a bit of a proxy for the health and prospects of Netflix's business. When the company's actual paid additions came in above what it projected, its shares often jumped as a result; and the reverse happened when they came in lower than expected.

Once Netflix stops offering net paid additions guidance, the market will likely be less reactive to the number of paid memberships it reports. More importantly, the move signals that for Netflix, user growth -- while not insignificant -- has become substantially less important than it was in the past decade. With around 223 million paying members as of the end of the third quarter, the company is increasingly focused on squeezing more money out of its existing ecosystem.

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Source Fool.com