Netflix — Apr 10, 2026 release

We'll launch new products throughout 2026 to help advertisers assess the incrementality of their buys on Netflix, all verified by Netflix's trusted first-party data. Our improved capabilities are attracting many new advertising clients — we now work with over 4,000, up 70% year over year — and we continue to expect ~$3B in ad revenue this year, up 2x from 2025. In summary, the entertainment industry remains extraordinarily vibrant and intensely competitive. Today, our competitive set includes Alphabet, Amazon, Apple, Comcast, Disney, local media companies around the world, Meta, Roblox, and TikTok, to name a few. We believe we have meaningful advantages as we strive to become a must‑have service for consumers: a strong global brand, a wide range of high‑quality programming, a best‑in‑class product experience, and a frequent role at the center of culture. Given our global footprint and deep engagement, we believe we provide a superior monetization model for the content we offer, making us a more attractive partner for creators and licensors. To maintain these advantages, we need to keep building our brand, audience, engagement, and monetization so Netflix remains the home for the best storytellers and the default place where consumers choose to spend their entertainment time. In such a dynamic environment, we’ve learned that the best thing we can do is get better faster than the competition. Cash Flow and Capital Structure Net cash generated from operating activities was significantly higher in Q1