This report previews Netflix's Q2 2026 earnings, highlighting growth in advertising, the scaling of live events, and the introduction of vertical video features. Goldman Sachs reiterates a Buy rating while adjusting the price target to $110.
Key Takeaways
- 1.Advertising revenues are projected to scale from ~$1.5bn in 2025 to ~$9.5bn by 2030, driven by ad-supported tier expansion and platform development.
- 2.Live events are increasingly central to engagement, evolving from exploratory testing to a core strategy for driving incremental user growth and advertising scale.
- 3.Netflix is introducing 'Clips', a vertical short-form video feed, to capture younger demographic attention and improve content discovery.
Table of Contents
- Topics in focus ahead of Q2'26 earnings
- Utilizing Data To Analyze Quarterly Operating Performance
- Estimate Changes, Valuation & Key Risks
- Disclosure Appendix
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Authors
Eric SheridanStephen LaszczykAntares Tobelem
Securities
NFLX
Themes
Advertising GrowthLive Events StrategyShare BuybacksVertical Video
Regions
North AmericaAsia PacificEuropeUnited StatesJapanIndia