Netflix reported a strong fourth quarter, largely driven by record-breaking viewership of live sports events, including the most-streamed fight ever and historic NFL games. Nevertheless, executives reassured investors that the company won't heavily invest in costly sports rights. Instead, Netflix views sports as an avenue for enhancing its overall live programming and ad revenue growth while remaining consistent in its cost discipline amidst soaring costs for live sports rights.
"We believe NFLX would benefit from expanding its sports portfolio but note few US sports rights are up for renewal over the next few years."
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