Netflix Revenue Up 13% as Live Events Boost Ads, Cut Hours

Netflix revenue climbed 13% year over year to $12.6 billion in the latest quarter. The company pointed to live events as a contributor to ad sales growth, even as the format weighed on total viewing hours.

Live programming, a centerpiece of Netflix's current upfront advertising talks, tends to generate strong fan engagement and ad revenue. The same events typically produce lower raw viewing hours compared with on-demand content, Netflix said.

The tradeoff shapes Netflix's strategy as it pushes deeper into advertising. The upfront negotiations, which set ad prices for the coming season, will test how much advertisers value the live-event audience over total screen time.