# Ackman Bets $1 Billion on Netflix Redemption

> Ackman's $1 billion Netflix bet targets redemption after 2022 loss
- Title: Ackman Bets $1 Billion on Netflix Redemption · 24/7 Wall St.
- Summary: Ackman's $1 billion Netflix bet targets redemption after 2022 loss Ackman expects Netflix's ad tier growth to reverse 2022 losses
- Keywords: bill ackman, pershing square, netflix, ad tier, streaming, netflix stock, netflix subscribers, netflix cash flow, walt disney, warner bros discovery, Ackman, Bets
- Source: 24/7 Wall St. — https://247wallst.com/investing/2026/09/21/ackman-bets-1-billion-on-netflix-redemption-after-400-million-2022-loss
- Author: Omor Ibne Ehsan
- Published: 2026-09-21T15:30:44+00:00
- Read time: 1 min
- Topics: bill ackman, pershing square, netflix, ad tier, streaming, netflix stock, netflix subscribers, netflix cash flow, walt disney, warner bros discovery
## Ackman's Netflix Bet
Bill Ackman's Pershing Square disclosed a $1 billion Netflix position, 5% of its portfolio.

> Bill Ackman lost $400 million the last time he bought Netflix and bailed within three months.
## 2022 Loss Recap
Ackman sold Netflix in 2022 after a $400 million loss, citing insufficient confidence in predicting Netflix's future.
## Netflix's Current Strength
Netflix has 325 million paid subscribers and $9.46 billion free cash flow in 2025, up 36.68% year over year.
## Ad Tier Growth
Netflix's ad tier drove over 60% of Q1 sign-ups with 4,000+ advertisers, up 70% year over year.
## Why Ackman Bets
Ackman sees Netflix's ad tier as a scalable monopoly with pricing power, targeting $3 billion ad revenue by 2026.
## Key takeaway

Ackman expects Netflix's ad tier growth to reverse 2022 losses