• by Wayne Friedman , Yesterday

Against more competition in a maturing streaming market, Netflix continues to make gains -- with August year-over-year viewership up 5.1%, according to analysis by Guggenheim Securities with Nielsen's Gauge Index.

Incorporating Nielsen's Gauge Index data into Guggenheim’s estimates, Netflix has seen steady increases in viewing since May 2025.

“This is consistent with management’s optimism on the 2Q earnings call (position of strength) that engagement growth would improve in the back half of the year given the strong content slate,” says Michael Morris, media analyst of Guggenheim.

Morris adds that Netflix’s top four streaming titles in August were at 22 billion minutes collectively.

Looking more broadly, Netflix’s top 10 TV program/movie viewership growth for the third quarter of 2025 was up 19.8% year-over-year -- accelerating over the second quarter (9.9%), and much higher than the third quarter of 2024, which slipped 0.5% versus the same period in 2023.

Netflix’s average daily viewership in the third quarter rose 3.5% year-over-year. Second-quarter 2025 results witnessed a 1.8% decline.

Morris estimates Netflix's total full-year 2025 advertising revenue to double to $2.2 billion -- slightly lower than analysts' consensus estimates of $2.4 billion. This is compared to 2024 consensus estimates for full-year advertising of $1.1 billion.