The numbers 13% — Netflix's Q2 revenue growth year over year to $12.6 billion, which is in line with expectations. 2% — Viewership hours grew 2% in the first half of the year vs. 1.5% in the same period in 2025. -8% — Reports noted that Netflix's stock dropped in after-hours trading, potentially due to the company narrowing its revenue forecast for 2026 to $51.0 billion to $51.4 billion. $3 billion — The company announced it was closing in on its upfront close and is on pace for $3 billion in ad revenue in 2026. The watercooler talk Netflix had a lot going on heading into its second-quarter earnings call on Thursday. The company said its ads business continued to be a top priority and it is on track to reach its goal of around $3 billion in ad revenue for 2026, doubling its take year over year. In addition, its upfront talks are in advanced stages with the expectation to close deals in the next few weeks. The company said it's seeing strong interest from live events, including the Women's World Cup, its NFL slate, WWE, and MLB events. Besides its upfront deals, Netflix announced that it will pull back on its viewership hours reporting. Its bi-annual "What We Watched" report will now be published annually, starting in 2027. Netflix said this is to separate the report from its earnings, as it focuses on financial metrics, including revenue and operating profit. In the first half of 2026, the company said members watched more than 97 billion hours, which is up 2% year over year. All of this news comes against the backdrop that Netflix is reportedly exploring ways to increase engagement through live channels, bundling, and its recent moves to bring YouTube creators and short-form video to the platform. The company is also the subject of M&A speculation, with reports that it could be exploring the acquisition of other platforms such as Letterboxd. The key quote "The growth in our ads business is being fueled by the strength and variety of our slate combined with our investments in AI-powered tools and workflows, the Netflix Ads Suite, and broader programmatic capabilities," — Netflix shareholder letter CTV is crowded—want to learn how brand fundamentals cut through the noise? Enroll in The ADWEEK MiniMBA in Marketing and build a strategy designed to last. Sign up here.