As the dust settles in the realm of streaming video, one name shines bright like a beacon: Netflix. A pioneer in internet-delivered television and a force to be reckoned with, Netflix has recently scaled new heights, breaching the $700 per share mark and quietly surpassing its previous peak set in late 2021. Since its initial public offering in early 2002, Netflix stock has spiraled a staggering 63,725% as of the latest market close.

1. Explosive Growth in Advertising

Netflix caused a stir recently with its “upfronts,” tradition-rich events where TV network execs and advertisers collide. The result? Ad sales leaped spectacularly by 150% year over year, fueled by the ascension of Netflix’s ad-supported plan. Major advertisers were lured by the allure of the company’s flagship content and ventures into live events.

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2. A Plethora of Blockbuster Shows

Netflix’s treasure trove of hit shows is a magnet for both advertisers and subscribers alike. From chart-toppers like Squid Game and Wednesday to perennial favorites such as Stranger Things and The Crown, the platform is a wellspring of entertainment. Recent standouts like Outer Banks and Emily in Paris further bolster its appeal.

3. Dive Into Sports Programming

Shifting gears, Netflix is reimagining its approach to sports content. From hosting its golf extravaganza to snagging WWE’s Raw in 2025, the platform’s foray into live sports marks a bold stride. Not to mention, Netflix’s upcoming NFL broadcasts on Christmas Day 2024 promise a festive treat for football fans and beyond.

4. Upward Trajectory in Subscribers

The bedrock of Netflix’s prosperity lies in its ability to attract and retain subscribers, even amidst fierce rivalry from streaming behemoths. With a staggering 278 million streaming paid memberships in the second quarter, Netflix’s subscriber base continues to surge, thanks to the addition of the ad-supported tier and stringent password policies.

5. Stellar Revenue Growth and Profit Margins

Netflix’s revenue and profits soar on the wings of its subscription prowess and pricing muscle. Weathering economic storms, the company posted a 7% revenue surge and a 21% bump in earnings per share in 2023. The trend has taken a brighter turn in 2024, with revenue climbing 16% and EPS leaping 65% in the first half of the year.

Consensus on the Horizon

Wall Street echoes the optimism surrounding Netflix’s trajectory, with an army of analysts championing the stock’s potential. Among them, analyst Jeff Wlodarczak stands out with a buy rating and an $800 price target, foreseeing a 16% upside from current levels. His bullish sentiment underscores Netflix’s supremacy in the streaming universe.

Onward and Upward

In a landscape where Netflix reigns supreme, its resilience, innovation, and financial mettle paint a picture of continued success. With industry dominance and unwavering performance, Netflix stock emerges as a compelling opportunity for investors looking to ride the wave of streaming supremacy.

Considering diving into the world of streaming upstart? The experts at the Motley Fool Stock Advisor have weighed in.