Netflix Ad Tier Tops 250M Viewers, Doubling 2026 Ad Revenue Forecast to $3B

Netflix shares closed at $89.65 on May 18, up 3%, after BofA raised its price target to $125. The surge follows the ad-supported tier reaching 250 million monthly viewers, nearly tripling from 94 million a year ago. Momentum built from the May 14 NFL rights extension through 2029 and multiple bullish analyst notes, including JPMorgan’s $118 Overweight rating. Management now projects ad revenue doubling to $3 billion in 2026, supported by expanded international markets and live sports inventory. Consensus targets average $115.74, implying roughly 30% upside as Netflix scales advertising.