Netflix plans to reach a market capitalization of $1 trillion by 2030, The Wall Street Journal (WSJ) reported this week, citing anonymous people who attended an “annual business review meeting” that Netflix held in March. Netflix's current market capitalization is nearly $400 billion.
Netflix is reportedly partnering its market cap goals with plans to double revenue within the same time frame. For 2024, Netflix reported $39 billion in revenue, meaning the company aims to raise its annual revenue to $78 billion in five years.
Compared to the prior five years, Netflix’s revenue grew 93.5 percent from 2019 ($20.16 billion) to 2024. However, that time period represented a different market, one where streaming subscriber counts were rising rapidly, and Netflix faced less competition than it does today. However, Netflix's 2030 revenue goals are also dependent on its advertising business, something Netflix lacked in 2019.
WSJ, citing anonymous people who attended Netflix’s March meeting, reported that Netflix plans to make $9 billion in ad sales by 2030. Netflix hasn’t disclosed ad revenue since launching its ad subscription tier in November 2022. However, eMarketer has estimated that Netflix will make over $2 billion in US ad revenue this year.
Netflix will try growing its ad business by getting more people to subscribe to its ad tier, which is its cheapest subscription option. But additional methods for growing ad revenue will also be critical over the next five years, including showing more live events. Live events force all viewers, including those with ad-free subscriptions, to watch commercials.
Netflix will also look to take more control over ad revenue tied to its platform by using proprietary ad technology. Since launching its ad tier, Netflix has largely relied on Microsoft for ad tech. Netflix is supposed to release its own technology, a supply-side platform and ad server called The Netflix Ads Suite, this month. The company has discussed potentially introducing new ad formats, like pause ads, while keeping ad loads at four minutes per hour with its tech. However, US President Donald Trump's wavering tariff plans have stirred uncertainty for advertisers and are expected to hurt the ad market in the coming months and years.
Netflix doesn’t plan to disclose subscriber counts anymore, but one of WSJ’s anonymous sources said that the streaming leader wants to have 410 million subscribers by 2030. That would require Netflix to add 108.4 million more subscribers than it reported at the end of 2024, or about 21.7 million per year, and expand its global reach. In 2024, Netflix added 41.36 million subscribers, including a record number of new subscribers in Q4 2024.
Netflix plans to release its Q1 2025 earnings report on April 17.