NFLX - 2024 Could Be a Big Year for Netflix Stock

2024-01-20 13:16:00 ET

After delivering staggering top-line growth for investors in 2020 and 2021, Netflix 's (NASDAQ: NFLX) growth rates slowed to the single digits in the entirety of 2022 and have remained there in 2023. But there are signs that double-digit growth is on the horizon for the streaming TV service giant. In fact, Netflix will likely report double-digit revenue growth when it reports its fourth-quarter results next week.

Here's why 2024 is pivotal for both Netflix's business and stock.

Though Netflix has been on a streak of single-digit year-over-year revenue growth rates for over a year, some key catalysts are likely to contribute meaningfully to the streaming company's growth rate this year. First, there's the continued rollout of Netflix's efforts to crack down on free account sharing. Through efforts it calls "paid sharing," the company has been slowly building and implementing the infrastructure to begin monetizing households logging into someone else's account to access Netflix for free.

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