Netflix aims to join the $1 trillion club

Netflix aims to achieve a $1 trillion market capitalization and double its revenue by 2030, ambitious goals that show its growing heft as the largest global streamer.

- Jessica Toonkel & Suzanne Vranica

Executives were optimistic about the company's growth prospects at the streamer's annual business review meeting last month, despite growing concerns on Wall Street about the economy and trade-policy uncertainty.

They shared with senior staff ambitious goals for revenue, ad sales and operating income by 2030, according to the people who attended the meeting.

Netflix, home to shows such as "Adolescence" and "Black Mirror," aims to double revenue from $39 billion last year and earn about $9 billion in global ad sales by 2030, according to people who attended the meeting.

Netflix doesn't disclose its ad revenue, but research firm eMarketer estimates that U.S. ad revenues for the streaming giant will top $2.15 billion this year.

Executives also have a goal of tripling Netflix's operating income by 2030 from $10 billion last year, according to one of the people.

The streamer, which currently has a market capitalization of almost $400 billion, has bolstered its fortunes in recent years by limiting password sharing, carefully raising prices and starting an ad business.