Netflix's New Ad-Based Tier Might Not Be a Quick Fix for the Stock
Netflix (NASDAQ: NFLX) has pitched its upcoming ad-supported tier as a way to appeal to more price-conscious consumers. It's a critical move for the company, especially as it loses ground in the streaming wars. But there are clues Netflix doesn't expect the new offering will change its fortunes quickly.
Following its fiscal Q2 2022 results, Netflix said it expects to spend about $17 billion on content in 2022, and the same again for 2023. Eagle-eyed investors might notice that $17 billion is also the amount the streamer spent on movies and shows in 2021. But of course, the Netflix of 2023 will be a different beast than the Netflix of 2021.
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Source Fool.com
