Netflix co-CEO Sarandos predicts revenue rebound in 2023

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Netflix Inc. NFLX, -2.25% co-Chief Executive Ted Sarandos believes the video-streaming giant will rebound with growth next year after a rough 2022. “We’re, like most companies, happy to get ’22 behind us,” he said at the UBS conference in New York on Tuesday. “This year, in very tough conditions, we’ve launched five of our most watched shows in the history of Netflix … and three of our most watched films.” A new advertising-supported platform should boost revenue, he said, though Sarandos acknowledged competition from the likes of media powers Walt Disney Co. DIS, -3.79%, Apple Inc. AAPL, -2.54%, Amazon.com Inc. AMZN, -3.03%, and Comcast Corp. CMCSA, -1.08%. Netflix’s stock is down 49% so far this year. But the stock has bounced back 55% in the second half of 2022.

This article was originally published by Marketwatch.com. Read the original article here.

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