Netflix still spends a small fortune on content. But relatively speaking, the streamer in 2022 tightened the purse strings — underscoring that the days of runaway spending on programming are …
still spends a small fortune on content. But relatively speaking, the streamer in 2022 tightened the purse strings — underscoring that the days of runaway spending on programming are behind it.
The steady-state in content spending, along with other cost reductions , led Netflix to project a “sustained” trajectory of growth in free cash flow. In 2022, Netflix reported free cash flow of about $1.6 billion — $1 billion higher than it previously forecast. In 2021, its FCF was negative, coming in at -$159 million. In 2023, assuming “no material swings” in currency exchange rates, the company expects at least $3 billion of free cash flow.
Nearly without pausing for a breath, Sarandos cited a string of popular titles starting with “Stranger Things 4” last July, continuing to “Sea Beast,” its biggest animated film ever, “Purple Hearts” and “Gray Man,” two of Netflix’s most-watched films ever on Netflix.
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