The king of streaming

Netflix’s ups and downs over the past two years resemble the drama you’d expect in one of its shows. 

The streamer’s stock hit a record high in the fall of 2021 amid the pandemic boom. But it bled subscribers in the first half of 2022, causing its share price to crater roughly 70%.

It’s battled back, partly thanks to a successful password-sharing ban. And as other streamers scramble to figure out long-term business plans, Netflix has been crowned the winner of the streaming wars thus far.

But Monday marked another shocking plot twist for the streamer with the departure of Scott Stuber, the chairman of Netflix Films. Stuber, who reportedly plans to start his own production company, was behind the streamer’s high-profile push into producing films.

Most analysts are bullish on Netflix ahead of its fourth-quarter earnings report, which will drop after today’s market close. More than 63% maintain a “buy” rating on the stock for the upcoming 12 months, while another 28% recommend a “hold,” according to data from Bloomberg’s terminal.

But the good times might not last forever, Business Insider’s Lucia Moses reports. Netflix’s ads business still has a ways to go after a leadership shake-up. That’ll be key, as advertising is positioned to be a big focus of streamers this year.

The competition isn’t letting up, either. From Disney to TikTok, there’s no shortage of places to be entertained. And if dealmaking picks up, one tie-up could tip the fortune toward one of Netflix’s rivals.