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Netflix to Boost Program Spending in 2026, Crimping Profit | Bloomberg Businessweek

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January 21, 2026

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Netflix Inc. delivered fourth-quarter results that largely beat Wall Street estimates but issued a cautious forecast for the months ahead, citing higher program spending and the cost of closing its deal with Warner Bros. Discovery Inc.

The streaming leader said Tuesday it plans to increase spending on films and TV shows by 10% in 2026 while forging ahead with plans to buy the studio and streaming business of Warner Bros., a deal that would unite two of the world’s largest entertainment companies. Netflix spent about $18 billion on programming last year, with subscribers growing almost 8% to top 325 million

For the current quarter, Netflix forecasts earnings of 76 cents a share, below Wall Street estimates of 82 cents. Sales will be $12.2 billion, in line with estimates. Closing the Warner Bros. deal will add $275 million in costs for this year, on top of the $60 million spent through year end. Netflix will pause share buybacks to accumulate cash for the acquisition, according to its quarterly letter to shareholders.

Today's show features:

Eric Clark, Chief Investment Officer at Accuvest Global Advisors, reacts to Netflix’s latest results and discusses how to invest in the streaming giant

Bloomberg Intelligence Senior Media Analyst Geetha Ranganathan breaks down quarterly earnings from Netflix

Bob Michele, Chief Investment Officer and Head of the Global Fixed Income, Currency & Commodities (GFICC) group for JPMorgan Asset Management on the fixed income market, the Federal Reserve’s next move

Joanna Gallegos, Co-Founder of BondBloxx, on the corporate credit outlook as earnings season kicks into high gear

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Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance and the interesting stories of global technology, politics, economics and more by harnessing the power of Bloomberg Businessweek reporters and editors.

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Guests & Subjects Covered

Watch CarolTim LIVENetflix IncWall StreetWarner BrosAccuvest Global AdvisorsGlobal Fixed Income CurrencyCommodities GFICC

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