The 'new normal' in Hollywood is seen to benefit Netflix, with a competitive landscape for content that appears to be less intense while media company studios are reportedly more willing to enter into licensing agreements. It is suggested that the introduction of an ad-tier option for Netflix might serve more as a total addressable market expander than just an average revenue per user enhancer. Projections include conservative estimates of net subscriber additions, with expectations for growth in the coming quarters.

Netflix is viewed as a robust growth narrative with considerable potential for increased revenue, earnings, and cash flow in the forthcoming years. Nevertheless, the current stock valuation is perceived to limit the scope for further multiple expansion and is anticipated to diminish as Netflix's growth decelerates approaching 2025, attributed to the diminishing temporary subscriber increase benefit from paid sharing. It is suggested that Netflix sustained an elevated subscriber growth due to paid sharing in the recent quarter, although the interim advantages from this model are expected to taper off. The estimate for net subscriber additions in the third quarter was revised upward.

The outlook for the media technology group has been updated, with models and estimations adjusted in anticipation of the Q3 results. The advertising market is showing resilience, averaging a steady 3% organic growth in Q3, which could lead to a slight uptick in linear TV advertising revenues, despite an overall negative trend when excluding major events like the Olympics. There's a long-term positive sentiment surrounding Netflix's advertising tier, which could gain strength from sports content and possible subscription price hikes.