Wedbush's Alicia Reese looks ahead to Netflix's Q4 results

Watch on YouTube ↗  |  January 16, 2026 at 22:16  |  3:54  |  CNBC
Speakers
Alicia Reese — SVP of Equity Research, Wedbush

Summary

Wedbush analyst Alicia Reese discusses what she will watch in Netflix's upcoming Q4 earnings report, emphasizing subscriber retention, churn, 2026 guidance, and the advertising buildout. She argues Netflix's core business and ad opportunity are undervalued because investors are focused on the pending Warner Bros. Discovery M&A overhang. Reese says Netflix remains an attractive investment with or without that deal, citing survey work showing low churn and improving ad-tier retention.

  • Alicia Reese of Wedbush previews Netflix's Q4 earnings.
  • She expects low churn, strong subscriber retention, and solid 2026 guidance.
  • She sees advertising expanding on live events, content, low ad loads, and Amazon/DSP data leverage.
  • Survey work suggests steady Q4 subscribers and returning users despite Stranger Things ending.
  • She says Netflix remains a money maker with or without Warner Bros. Discovery.
  • She argues the core business and ad opportunity are overlooked due to M&A overhang.
Ideas
Alicia Reese SVP of Equity Research, Wedbush 0:20
Netflix core and ad opportunity undervalued.
Alicia Reese expects Netflix's Q4 results to highlight a resilient core business, with very low churn, strong subscriber retention, positive survey data, and good 2026 guidance. She also expects advertising to expand rapidly as live events and content spending drive the ad tier, low ad loads remain consumer-friendly, ad-tier retention improves, and Amazon/DSP data leverage helps advertisers. She argues Netflix is still an attractive investment with or without Warner Bros. Discovery because the market is overlooking the core business and the large advertising opportunity due to the pending M&A overhang.
NFLX HIGH
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This CNBC video, published January 16, 2026, features Alicia Reese discussing NFLX. 1 trade idea extracted by AI with direction and confidence scoring.

Speakers: Alicia Reese  · Tickers: NFLX