Netflix handily beat Wall Street estimates when it reported adding 13 million subscribers to end 2023. This brings the platform’s total number of subscribers to over 260 million globally. The company’s stock price rallied by more than 10% in response to the positive results. However, this might be a sign that Netflix is expanding its moat as the undisputed streaming and entertainment leader in 2024 and beyond, rather than a bullish signal for the streaming business more broadly.
The final quarter of 2023 marked the fourth consecutive quarter of slowed output from streaming services collectively. Each quarter of 2023, the rate of new streaming original series premieres slowed down. In
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