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This is a breaking news update from Bloomberg.

This is a breaking news update from Bloomberg.

Instant reaction and analysis from our three thousand journalists and analysts around the world. Okay, Netflix shares finally bouncing around a little bit, up about two percent in the after hours. The company did just report first quarter profit that exceeded estimates. It was boosted by a recent price increase, a strong slate of programming across the globe, like the UK hit series Adolescents. I want to bring Lucas Shaw in right now. He's been all over this story, and he's all over this company and has been for years.

Instant reaction and analysis from our three thousand journalists and analysts around the world. Okay, Netflix shares finally bouncing around a little bit, up about two percent in the after hours. The company did just report first quarter profit that exceeded estimates. It was boosted by a recent price increase, a strong slate of programming across the globe, like the UK hit series Adolescents. I want to bring Lucas Shaw in right now. He's been all over this story, and he's all over this company and has been for years.

Lucas.

Lucas.

This report is unique because it's the first time they haven't reported subscriber data. We knew this was coming. Everybody knew this was coming. It is there a way to back into that number or our investors just ignoring that now?

This report is unique because it's the first time they haven't reported subscriber data. We knew this was coming. Everybody knew this was coming. It is there a way to back into that number or our investors just ignoring that now?

Well, I think you can try to figure it out, at least in the first couple quarters by by looking at revenue and modeling out how many people that they added and factor in the price increases. But look, a lot of other companies get measured based on sales and profit. There's no read the Netflix can't it's a little less fun for me. I think it's a little less fun for all of us. We'd appreciate the added transparency, but for the you know, they made sure that in the first quarter of not doing that, they met or beat on pretty much every metric.

Well, I think you can try to figure it out, at least in the first couple quarters by by looking at revenue and modeling out how many people that they added and factor in the price increases. But look, a lot of other companies get measured based on sales and profit. There's no read the Netflix can't it's a little less fun for me. I think it's a little less fun for all of us. We'd appreciate the added transparency, but for the you know, they made sure that in the first quarter of not doing that, they met or beat on pretty much every metric.

What for you, Lucas also stands out? I mean we were just talking about too, you know, and that it has been an outperformer. We've seen some movements up certainly this week. But what for in this release? There's a lot there that really stood out for you? Is it some of the content that they're offering. We talked a little bit about live content and sports with our TV colleagues, but I'm just curious for you what's significant here.

What for you, Lucas also stands out? I mean we were just talking about too, you know, and that it has been an outperformer. We've seen some movements up certainly this week. But what for in this release? There's a lot there that really stood out for you? Is it some of the content that they're offering. We talked a little bit about live content and sports with our TV colleagues, but I'm just curious for you what's significant here.

I was a little confused. You know, they issue this letter to shareholders every quarter, and they had this long section that was titled competition that didn't really talk about competition that much. They spent a lot of time talking about how much they're investing in production overseas, and then they had a chart from the UK showing their growth there and how they're only behind BBC and ITV and I think important to Netflix on television screens, they're ahead of YouTube because Netflix really doesn't like that. In the US, YouTube can now say that more people watch it than Netflix. So I sort of read that as like a long effort to show ways in which it's both ahead of all of it sort of traditional Hollywood competitors, and in some of these foreign markets on televisions it's still ahead of YouTube. I think that's where Netflix feels the most competitive pressure at the moment.

I was a little confused. You know, they issue this letter to shareholders every quarter, and they had this long section that was titled competition that didn't really talk about competition that much. They spent a lot of time talking about how much they're investing in production overseas, and then they had a chart from the UK showing their growth there and how they're only behind BBC and ITV and I think important to Netflix on television screens, they're ahead of YouTube because Netflix really doesn't like that. In the US, YouTube can now say that more people watch it than Netflix. So I sort of read that as like a long effort to show ways in which it's both ahead of all of it sort of traditional Hollywood competitors, and in some of these foreign markets on televisions it's still ahead of YouTube. I think that's where Netflix feels the most competitive pressure at the moment.

Does it still feel like it can? I mean, Lucas, this is a company that you know, years ago would say it's competing with anything that anyone is doing looking at a screen, you know, whether that's gaming, whether that's watching traditional linear TV, whether it's looking at TikTok for example. I think there was a year they called out TikTok specifically or quarter they did that. Do they still think about all those are Do they still think about competition that way?

Does it still feel like it can? I mean, Lucas, this is a company that you know, years ago would say it's competing with anything that anyone is doing looking at a screen, you know, whether that's gaming, whether that's watching traditional linear TV, whether it's looking at TikTok for example. I think there was a year they called out TikTok specifically or quarter they did that. Do they still think about all those are Do they still think about competition that way?

Yeah, the company still thinks of anything that is leisure time as competition.

Yeah, the company still thinks of anything that is leisure time as competition.

How much it talks about.

How much it talks about.

Some of those other behaviors I think depends on the quarter. Right Like right now, they may be more focused on your traditional video entertainment programming. There's some quarters I feel like they oftentimes do that when they have.

Some of those other behaviors I think depends on the quarter. Right Like right now, they may be more focused on your traditional video entertainment programming. There's some quarters I feel like they oftentimes do that when they have.

Like a really killer quarter because they.

Like a really killer quarter because they.

Don't really need to spend any time on their immediate competition because everyone can see that it's going very well. And so then they talk sort of loftily about like Fortnite or TikTok or sleep or any of these other topics.

Don't really need to spend any time on their immediate competition because everyone can see that it's going very well. And so then they talk sort of loftily about like Fortnite or TikTok or sleep or any of these other topics.

How does it feel to not get the subscriber numbers? Subscription numbers?

How does it feel to not get the subscriber numbers? Subscription numbers?

I mean, I don't like it.

I mean, I don't like it.

Who would we all like using data to evaluate a company. It was always the easiest way to know if things were going well or not. And it feels a little even though they would push back on this, it does feel a little bit like they're trying to hide it because they know that their subscriber growth is going to be good, but not as good as it used to be, and so it allows them, you know, they can only do so much to adjust the subscriber numbers, but increasing and decreasing subscribers is now just one of a few levers they have, right because they're going to raise prices, they're going to have advertising, they're going to do a lot of different things that allows them to kind of shift people from a metric that is maybe a little harder to control to one that's a little easier for them, Lucas.

Who would we all like using data to evaluate a company. It was always the easiest way to know if things were going well or not. And it feels a little even though they would push back on this, it does feel a little bit like they're trying to hide it because they know that their subscriber growth is going to be good, but not as good as it used to be, and so it allows them, you know, they can only do so much to adjust the subscriber numbers, but increasing and decreasing subscribers is now just one of a few levers they have, right because they're going to raise prices, they're going to have advertising, they're going to do a lot of different things that allows them to kind of shift people from a metric that is maybe a little harder to control to one that's a little easier for them, Lucas.

As we were preparing for these results, we saw this narrative emerge that this is, you know, a tech company that could be at least a little shielded from the chaos that we're seeing when it comes to tariffs and when it comes to trade, because well, look at what they're dealing in. But at the same time, it is a discretionary expense for consumers.

As we were preparing for these results, we saw this narrative emerge that this is, you know, a tech company that could be at least a little shielded from the chaos that we're seeing when it comes to tariffs and when it comes to trade, because well, look at what they're dealing in. But at the same time, it is a discretionary expense for consumers.

So I'm wondering.

So I'm wondering.

How you view that and whether or not if we do see maybe some sort of downturn as a result of higher prices from tariffs from trade, that could actually be a risk to the company.

How you view that and whether or not if we do see maybe some sort of downturn as a result of higher prices from tariffs from trade, that could actually be a risk to the company.

Yeah, I think consensus is that they're to your point, they're more insulated both because look that, yeah, they don't deal in any hard goods, so there's the tariffs don't have a direct impact unless you start to see other countries, you know, impose price increases on services, which is possible but not something that we've seen yet. You know, they're a little bit impacted in the cost of making things because of just pariffs will impact factors that go into production, But in terms of discretionary income, look, they keep raising prices, maybe some people will decide Netflix just isn't worth it. Netflix has the best churn, which is sort of the cancelation rate in the streaming business. It's way ahead of everyone else, and so you have to think that when people are looking at what they're going to cancel, it will not be at the top of that list. It will probably be close to or at the bottom of that list. So again, I think they're in better position than most. But look, they're big enough that even a slight increase in churn is a headache for them, So they're not immune. I just think it depends on, you know, if we go from a trade war into a full on recession or if we just have like this period of uncertainty. I think just uncertainty is fine for Netflix. You know, recession's not good for anyone.

Yeah, I think consensus is that they're to your point, they're more insulated both because look that, yeah, they don't deal in any hard goods, so there's the tariffs don't have a direct impact unless you start to see other countries, you know, impose price increases on services, which is possible but not something that we've seen yet. You know, they're a little bit impacted in the cost of making things because of just pariffs will impact factors that go into production, But in terms of discretionary income, look, they keep raising prices, maybe some people will decide Netflix just isn't worth it. Netflix has the best churn, which is sort of the cancelation rate in the streaming business. It's way ahead of everyone else, and so you have to think that when people are looking at what they're going to cancel, it will not be at the top of that list. It will probably be close to or at the bottom of that list. So again, I think they're in better position than most. But look, they're big enough that even a slight increase in churn is a headache for them, So they're not immune. I just think it depends on, you know, if we go from a trade war into a full on recession or if we just have like this period of uncertainty. I think just uncertainty is fine for Netflix. You know, recession's not good for anyone.

Hey, one last quick question for you, Lucas on the analys call, what is the question that must be asked?

Hey, one last quick question for you, Lucas on the analys call, what is the question that must be asked?

Good question?

Good question?

I mean, I expect they'll get a bunch of normal questions about sports and advertising. I guess I'm probably most curious about advertising. They keep talking about how they're close to this being a material part of their business. They're teasing it out a little bit more in their shareholder letter, but we don't. We haven't really had a material any material numbers on that business other than like these sort of vague monthly active user figures. So I'd love for them to go into more detail. I don't expect that they will.

I mean, I expect they'll get a bunch of normal questions about sports and advertising. I guess I'm probably most curious about advertising. They keep talking about how they're close to this being a material part of their business. They're teasing it out a little bit more in their shareholder letter, but we don't. We haven't really had a material any material numbers on that business other than like these sort of vague monthly active user figures. So I'd love for them to go into more detail. I don't expect that they will.

All right, great stuff, Hey, thank you so much, have a great weekend. Bloomberg News entertainment reporter Lucas Shaw with a breakdown on Netflix. Just want to drive everybody's attention because I'm looking at it in the aftermarket and we're now seeing the stock up about three point six percent here. Let me just pull it up once again on my Bloomberg yet almost three point eight percent as we speak. Netflix reported first quot a profit that exceeded Wall Street forecasts, boosted by a recent price increase and a strong slate of programming across the globe like the hit UK series Adolescence. Keep in mind, this is the first time that the company has reported financial results without disclosing how many customers it added are lost, something we talked about with Lucashaw, which has been such a crucial yardstick excuse me to gauge the company's performance. But again, the stock up about three point nine percent.

All right, great stuff, Hey, thank you so much, have a great weekend. Bloomberg News entertainment reporter Lucas Shaw with a breakdown on Netflix. Just want to drive everybody's attention because I'm looking at it in the aftermarket and we're now seeing the stock up about three point six percent here. Let me just pull it up once again on my Bloomberg yet almost three point eight percent as we speak. Netflix reported first quot a profit that exceeded Wall Street forecasts, boosted by a recent price increase and a strong slate of programming across the globe like the hit UK series Adolescence. Keep in mind, this is the first time that the company has reported financial results without disclosing how many customers it added are lost, something we talked about with Lucashaw, which has been such a crucial yardstick excuse me to gauge the company's performance. But again, the stock up about three point nine percent.

Hey, I want to bring in Mark Douglass right now. He's president and CEO of Mountain. It's the company that has software that helps companies target advertising when it comes to smart TVs. He joins us here in the Bloomberg Interactive Brokers studio. I want to pick up exactly where Lucas left off, and that's advertising. We don't know a lot about how much revenue is actually coming from advertising. They don't have a specific place for it in the shareholder letter today. How much do you think they're getting.

Hey, I want to bring in Mark Douglass right now. He's president and CEO of Mountain. It's the company that has software that helps companies target advertising when it comes to smart TVs. He joins us here in the Bloomberg Interactive Brokers studio. I want to pick up exactly where Lucas left off, and that's advertising. We don't know a lot about how much revenue is actually coming from advertising. They don't have a specific place for it in the shareholder letter today. How much do you think they're getting.

I think it's still pretty small for them. What's really important is half of all new subscribers they reported previously in previous quarters are buying the ad supported tier.

I think it's still pretty small for them. What's really important is half of all new subscribers they reported previously in previous quarters are buying the ad supported tier.

What does that tell you?

What does that tell you?

So, it tells me they have a growing backlog of revenue that's going to occur in the future because essentially every person that gets the ad supported tier is currently undermonetized. But despite that, they have record breaking earnings. So imagine what the earnings are going to be when they are fully monetized, which would effectively double the revenue per customer for their new customer.

So, it tells me they have a growing backlog of revenue that's going to occur in the future because essentially every person that gets the ad supported tier is currently undermonetized. But despite that, they have record breaking earnings. So imagine what the earnings are going to be when they are fully monetized, which would effectively double the revenue per customer for their new customer.

You must have spent time with the advertising tier of Netflix, just be given your business.

You must have spent time with the advertising tier of Netflix, just be given your business.

Yeah, well some I know a lot of the key people.

Yeah, well some I know a lot of the key people.

But no.

But no.

But I mean like the experience because I think a lot of people who have been using Netflix for years we don't have the advertising plan.

But I mean like the experience because I think a lot of people who have been using Netflix for years we don't have the advertising plan.

So I don't.

So I don't.

But if you're watching, like if you're watching something on YouTube, for example, and an AD is just thrown in there, it can be pretty eruptive. Yeah, what's the experience on Netflix.

But if you're watching, like if you're watching something on YouTube, for example, and an AD is just thrown in there, it can be pretty eruptive. Yeah, what's the experience on Netflix.

It's it's like watching any other streaming service ad supported streaming service. There are pods of ads. There's just a lot fewer ads right now.

It's it's like watching any other streaming service ad supported streaming service. There are pods of ads. There's just a lot fewer ads right now.

How well is it targeted?

How well is it targeted?

They I don't think it's very targeted. I think Netflix probably an issue right it is. It's because Netflix is kind of starting from the big brand advertiser perspective and to really fully monetize that that there, you know, they have to take market share away from the entire rest of the industry because those big brand advertisers, they're not increasing their spend. So so I think that's part of the challenge they have in monizing monetizing the ads. But they will get there, and when that kicks in, it's going to be the same way password cracking down on password sharing.

They I don't think it's very targeted. I think Netflix probably an issue right it is. It's because Netflix is kind of starting from the big brand advertiser perspective and to really fully monetize that that there, you know, they have to take market share away from the entire rest of the industry because those big brand advertisers, they're not increasing their spend. So so I think that's part of the challenge they have in monizing monetizing the ads. But they will get there, and when that kicks in, it's going to be the same way password cracking down on password sharing.

You know, I just want to My experience with advertising was in one of these I don't know, like a similar service was when Amazon decided to kind of get rid of the free yeah Prime video. And I'll tell you like, I was like watching something Carol and just cut out for an ad at a terrible time.

You know, I just want to My experience with advertising was in one of these I don't know, like a similar service was when Amazon decided to kind of get rid of the free yeah Prime video. And I'll tell you like, I was like watching something Carol and just cut out for an ad at a terrible time.

Right.

Right.

It was thrown in a really sloppy way. It's only I think three dollars more a month to pay for it, and I was like, I'm done.

It was thrown in a really sloppy way. It's only I think three dollars more a month to pay for it, and I was like, I'm done.

That's it.

That's it.

No more from like a you know, I don't know what's wrong with me, but I'm like, I'm not even going to partake in this.

No more from like a you know, I don't know what's wrong with me, but I'm like, I'm not even going to partake in this.

I've done with it.

I've done with it.

It's amazing how we as consumers of video and content right where we used to be we didn't have a choice, you know, in linear television where you had to stop, you know, or you had a commercial and you ran the bathroom or something and like, but.

It's amazing how we as consumers of video and content right where we used to be we didn't have a choice, you know, in linear television where you had to stop, you know, or you had a commercial and you ran the bathroom or something and like, but.

Now it's program okay, I'm just before and we love you, we love you, okay.

Now it's program okay, I'm just before and we love you, we love you, okay.

All right?

All right?

So then how much I mean we were talking about how Netflix has been a bit of an app performer this year. It's more than nine percent here, So when do we start to see those numbers and that enthusiasm that you're talking about as a result kind of start to show up. Well, I think, and is the stock underpriced because of it?

So then how much I mean we were talking about how Netflix has been a bit of an app performer this year. It's more than nine percent here, So when do we start to see those numbers and that enthusiasm that you're talking about as a result kind of start to show up. Well, I think, and is the stock underpriced because of it?

I think Netflix. I think Netflix is somewhat immune because think of it this way. The first thing you get is the last thing you cancel, and Netflix for streaming is definitely the first thing you get. It's the first thing. There's data that shows it's you know, you turn on the TV. The first thing you hit is let me go see what's on Netflix. And remember the highest price offering the highest priced subscription, Yeah, costs sixty eight percent more than their lowest price, so you can just like kind of go, you want to save some money, you just downgrade the subscription. You don't need to cancel it.

I think Netflix. I think Netflix is somewhat immune because think of it this way. The first thing you get is the last thing you cancel, and Netflix for streaming is definitely the first thing you get. It's the first thing. There's data that shows it's you know, you turn on the TV. The first thing you hit is let me go see what's on Netflix. And remember the highest price offering the highest priced subscription, Yeah, costs sixty eight percent more than their lowest price, so you can just like kind of go, you want to save some money, you just downgrade the subscription. You don't need to cancel it.

So I think for them to get to the.

So I think for them to get to the.

Point where people are canceling like it, it's nearly impossible.

Point where people are canceling like it, it's nearly impossible.

You can't put food on the I'm all getting Hopefully nobody has to do that.

You can't put food on the I'm all getting Hopefully nobody has to do that.

Just sorry, the squid game on the table exactly.

Just sorry, the squid game on the table exactly.

Mark.

Mark.

When it comes to the landscape out there, Yeah, okay, I know first mover advantage is going to be part of your answer here. But Netflix stands apart from the competitors out there, and part of it is that some of them were legacy media companies that were trying to adapt to this new world that Netflix helped pioneer. But why is Netflix so good at this and everybody else is struggling?

When it comes to the landscape out there, Yeah, okay, I know first mover advantage is going to be part of your answer here. But Netflix stands apart from the competitors out there, and part of it is that some of them were legacy media companies that were trying to adapt to this new world that Netflix helped pioneer. But why is Netflix so good at this and everybody else is struggling?

Well, my friends at Disney would properly this.

Well, my friends at Disney would properly this.

I mean you know they would. They disagree that Netflix does it better? Well, I think Netflix, do you think they would? It's the thing is they might say we have blue and Netflix doesn't.

I mean you know they would. They disagree that Netflix does it better? Well, I think Netflix, do you think they would? It's the thing is they might say we have blue and Netflix doesn't.

But that's it.

But that's it.

Yeah, what what well they have? They have a lot more sports. But I agree with what you're saying, which is when you turn on the TV, Netflix is generally the first thing you're going to check. And and that's just an insane advantage because it allows you to turn shows that maybe people wouldn't have watched, like WWE, and turn them in the top ten hits on Netflix just because you know, you you sit down on the couch, turn on the TV. WWE is on and it's live, why you know what, and it's there for you to watch. It gives us this incredible power to turn average content into really big hits, and to turn great content into like like NFL sport NFL games in the nearly Super Bowl on a regular weekend.

Yeah, what what well they have? They have a lot more sports. But I agree with what you're saying, which is when you turn on the TV, Netflix is generally the first thing you're going to check. And and that's just an insane advantage because it allows you to turn shows that maybe people wouldn't have watched, like WWE, and turn them in the top ten hits on Netflix just because you know, you you sit down on the couch, turn on the TV. WWE is on and it's live, why you know what, and it's there for you to watch. It gives us this incredible power to turn average content into really big hits, and to turn great content into like like NFL sport NFL games in the nearly Super Bowl on a regular weekend.

You're more of a UFC person.

You're more of a UFC person.

Yeah, totally not. Advertisers, where do they want to put their ads in terms of content? Is it the live sports stuff?

Yeah, totally not. Advertisers, where do they want to put their ads in terms of content? Is it the live sports stuff?

Is it?

Is it?

What is it? Do they care?

What is it? Do they care?

Are they picky?

Are they picky?

It depends on the advertiser, but generally people lives. You can sell live sports all day long.

It depends on the advertiser, but generally people lives. You can sell live sports all day long.

From now.

From now.

We're kind of not in that game. We're not dealing with brand advertisers. But I know when I talk to all the big agencies and things like that, they it's all about live sports. They just it's an insatiable appetite streaming.

We're kind of not in that game. We're not dealing with brand advertisers. But I know when I talk to all the big agencies and things like that, they it's all about live sports. They just it's an insatiable appetite streaming.

They don't care.

They don't care.

Yeah, streaming live sports. ESPN is now rolling out streaming live sports and people are I know from Disney, people are just lining up to buy it. And it's every streamer is in the process of doing that, and so it's always that. After that, I think the appetite changes a lot, but there's just something about the engagement live sports that advertisers love.

Yeah, streaming live sports. ESPN is now rolling out streaming live sports and people are I know from Disney, people are just lining up to buy it. And it's every streamer is in the process of doing that, and so it's always that. After that, I think the appetite changes a lot, but there's just something about the engagement live sports that advertisers love.

Yeah.

Yeah.

The November twenty twenty four Taylor Serrano fight on Netflix became the most watched professional women's sports event in history. They say that we're well with the upcoming rematch. Were poised for another groundbreaking night that will further elevate the profile of women athletes. In addition, Netflix is opted into a second game for Christmas twenty twenty five, where they'll be the home of the NFL for Christmas Day. My sister was watching that last year on Christmas Day. They say live efforts have primarily focused on the US. We expect to extend this strategy to other countries over time. How big of an opportunity is that for Netflix given what you told me about the ad demand for live sports, huge for Netflix if they expand this outside the US.

The November twenty twenty four Taylor Serrano fight on Netflix became the most watched professional women's sports event in history. They say that we're well with the upcoming rematch. Were poised for another groundbreaking night that will further elevate the profile of women athletes. In addition, Netflix is opted into a second game for Christmas twenty twenty five, where they'll be the home of the NFL for Christmas Day. My sister was watching that last year on Christmas Day. They say live efforts have primarily focused on the US. We expect to extend this strategy to other countries over time. How big of an opportunity is that for Netflix given what you told me about the ad demand for live sports, huge for Netflix if they expand this outside the US.

Yeah.

Yeah.

I mean if I was a sportslee, if I was Formula one, I would literally just live in front of Surrended's house, just like, let's do a deal.

I mean if I was a sportslee, if I was Formula one, I would literally just live in front of Surrended's house, just like, let's do a deal.

Why do you think that you haven't done well?

Why do you think that you haven't done well?

They already are doing that because Half One's become so popular with the foot drive a match. If the gate if they just last year, was like.

They already are doing that because Half One's become so popular with the foot drive a match. If the gate if they just last year, was like.

So why is it not there now? Do you think is it a long term deals that are in place already?

So why is it not there now? Do you think is it a long term deals that are in place already?

Yeah?

Yeah?

I think it's long term deals. I wouldn't be surprised if Formula one comes there they go to Europe. Of course, football in Europe, I mean the the it's just something there.

I think it's long term deals. I wouldn't be surprised if Formula one comes there they go to Europe. Of course, football in Europe, I mean the the it's just something there.

But Netflix is smart.

But Netflix is smart.

They're going to sports that are like like you know, female boxing, that wouldn't necessarily be something that would attract the huge audience and get the highest rates, and they're turning it into the most watched female sports event in history. And this is the superpower that they have. It's the advantage that they just have over every other streaming network by being the first thing you click when you turn on your TV.

They're going to sports that are like like you know, female boxing, that wouldn't necessarily be something that would attract the huge audience and get the highest rates, and they're turning it into the most watched female sports event in history. And this is the superpower that they have. It's the advantage that they just have over every other streaming network by being the first thing you click when you turn on your TV.

I just want to mention we are talking with Mark Douglass, President and CEO of Mountain Shares of Netflix. They're up about four point six percent. This is the company logs record profit in the quarter, revenue tracking above the midpoint of its twenty twenty five forecast range, and it does see second quarter revenue. So the current quarter that we're in eleven point zero four billion, the estimate is ten point eighty eight bill. And when it comes to advertisers, does everybody else want to just be Netflix? Especially when it comes to streaming? What do you hear from advertisers? Is there first choice always Netflix?

I just want to mention we are talking with Mark Douglass, President and CEO of Mountain Shares of Netflix. They're up about four point six percent. This is the company logs record profit in the quarter, revenue tracking above the midpoint of its twenty twenty five forecast range, and it does see second quarter revenue. So the current quarter that we're in eleven point zero four billion, the estimate is ten point eighty eight bill. And when it comes to advertisers, does everybody else want to just be Netflix? Especially when it comes to streaming? What do you hear from advertisers? Is there first choice always Netflix?

Not for I think people are very intrigued by advertising on Netflix, but at the end of the day, they want the consumer wherever they are. And so Netflix started their ads here with very very high pricing and they've had to kind of come back down the reality and read tools. So I don't think advertisers like Netflix are nothing. But Netflix has the most viewers, so they potentially have the most ad space over time.

Not for I think people are very intrigued by advertising on Netflix, but at the end of the day, they want the consumer wherever they are. And so Netflix started their ads here with very very high pricing and they've had to kind of come back down the reality and read tools. So I don't think advertisers like Netflix are nothing. But Netflix has the most viewers, so they potentially have the most ad space over time.

One last quick question. We know you're going to join our TV colleagues in just a moment, but a federal judge rule that Google illegally monopolized online ad technology markets for advertising exchanges and tools used by websites to sell ad space. So they say they, you know, we're doing anti competitive acts to acquire maintainment opoly power in these markets. So what does that possibly mean at this stamp don't.

One last quick question. We know you're going to join our TV colleagues in just a moment, but a federal judge rule that Google illegally monopolized online ad technology markets for advertising exchanges and tools used by websites to sell ad space. So they say they, you know, we're doing anti competitive acts to acquire maintainment opoly power in these markets. So what does that possibly mean at this stamp don't.

I don't think Google is losing any sleep really that ruling. If anything, it's their dream scenario. It's the small it's a small part of their business. But the you know, US federal government has been very focused on it from an anti trust and in fact they're probably you know, it's like, yeah, focus it's focused on that, don't focus on search and AI, and so to me, it's it's almost a dream scenario. For the best dream is that they're left alone. But if they have to, you know, kind of kind of focus on that and even potentially give up that great scenario for them. I don't think any investor should be worried about Google losing that part of their at business.

I don't think Google is losing any sleep really that ruling. If anything, it's their dream scenario. It's the small it's a small part of their business. But the you know, US federal government has been very focused on it from an anti trust and in fact they're probably you know, it's like, yeah, focus it's focused on that, don't focus on search and AI, and so to me, it's it's almost a dream scenario. For the best dream is that they're left alone. But if they have to, you know, kind of kind of focus on that and even potentially give up that great scenario for them. I don't think any investor should be worried about Google losing that part of their at business.

All right, kind of interesting different perspective, and we will say that Alphabet Chaos were down about one point four percent today, a little bit of a swing. Mark, Thank you so much, Mark Douglass. He's president CEO Mountain, the company of software that helps companies target advertising a smart TV. So good to get his perspective.

All right, kind of interesting different perspective, and we will say that Alphabet Chaos were down about one point four percent today, a little bit of a swing. Mark, Thank you so much, Mark Douglass. He's president CEO Mountain, the company of software that helps companies target advertising a smart TV. So good to get his perspective.

Mark, thank you

Mark, thank you