Netflix remains supported as users on ad-tier plan swell

  • NFLX.us
    (${instrument.percentChange}%)

Netflix (NFLX.us) has surpassed 23 million global active users on its ad-based plan. This is a sharp increase from November when the company said it had 15 million active users on its less expensive plan. More information will be available on 23 January when the company releases its Q4 earnings.

The number of subscribers has continued to grow despite NFLX.us cracking down on password sharing in May 2023. Initially there were concerns that subscribers would drop due to a tough economic environment, but the opposite has happened. In October, the company reported that it has added 8.8 million subscribers for Q3, which was higher than anticipated.

Technically the company remains supported. Its green 5-week EMA is above its orange 10-week EMA and its momentum-based RSI is on the bullish side of 50 (green rectangle):

Source: www.tradingview.com

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Russell Shor

Senior Market Specialist

Russell Shor joined FXCM in October 2017 as a Senior Market Specialist. He is a certified FMVA® and has an Honours Degree in Economics from the University of South Africa. Russell is a full member of the Society of Technical Analysts in the United Kingdom. With over 20 years of financial markets experience, his analysis is of a high standard and quality.

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