A few days before Netflix (NASDAQ:NFLX) reported third-quarter earnings, I decided to buy some shares. While the latest round of numbers looks strong, with global streaming paid memberships reaccelerating to 9.4% year over year, my decision had nothing to do with short-term performance. Rather, I was encouraged with where Netflix is clearly headed over the long term.
With a recent hit like Squid Game, Netflix is proving it can cross cultural boundaries and appeal universally to everyone. It seems that Netflix’s quest to dominate the global streaming market is only just beginning.
Netflix spent $12.5 billion on content last year, but that was a light year for the streamer given the production delays during the pandemic. Nonetheless, its recent expenditure is about to pay off big. Netflix expects 67 million households to watch the limited series Maid, which launched on Oct. 1 and follows comparable engagement numbers for season five of La Casa de Papel (Money Heist) and…