Netflix adds 19 million subscribers, capping streaming giant’s biggest year
In the final three months of 2024, Netflix registered an unprecedented increase in subscribers, reinforcing its powerful position within the streaming industry and marking a triumphant end to its most successful year on record.
In the final quarter, the company gained an additional 19 million paying customers, increasing its worldwide customer base to a total of 302 million. Popular shows like the second season of the Korean drama “Squid Game” and the live boxing match between YouTuber Jake Paul and Mike Tyson contributed significantly to boosting viewership and subscriptions.
Netflix earned approximately $10.2 billion in total revenue during the recent quarter, marking a 16% increase from the same period last year. Additionally, they reported nearly $1.9 billion in net income compared to around $938 million in the same quarter of 2023. These figures surpassed analyst predictions for sales and profit. Specifically, according to FactSet, analysts had anticipated revenue of $10.1 billion and a profit of $1.8 billion.
In 2025, Netflix aims to enhance its primary focus on series and movies, expand its advertising-backed business, and further progress its emerging projects like live broadcasting and video games. The company boosted its projected revenue for 2025 by approximately $500 million, now estimating a range of $43.5 billion to $45.5 billion.
In a shareholder letter on Tuesday, Netflix stated that they consistently hold the top spot when it comes to customer interaction, earnings, and profits.
Over the last year, the company’s share value has increased substantially, ending at approximately $869.68 per share on Tuesday. This represents an almost 80% increase compared to a year ago. Additionally, there was a nearly 11% rise in the shares during extended trading hours on Tuesday.
Starting from October 2022, Netflix has been expanding its lower-priced ad-supported subscription plans and boosting its live event content offerings to attract more advertising clients. Experts predict that this strategy could potentially contribute significantly to Netflix’s growth in the years ahead.
In essence, Albie Amankona, an analyst at Third Bridge, stated that in the future, advertising represents one of Netflix’s most significant growth possibilities. This strategy would attract new subscribers who found Netflix too costly previously. Moreover, he suggested that the ad-supported subscription could potentially yield more revenue per user than the standard paid tier.
In November, the Tyson vs. Paul match on Netflix attracted a simultaneous audience of 65 million viewers. Last month, two NFL football games were streamed on Christmas Day by Netflix, with over 30 million viewers worldwide on average. Starting in January, Netflix will be the exclusive streaming platform for WWE Raw not only in the U.S., but also in various other countries.
The business has managed to boost its income by implementing strict measures against password sharing. It provides an option for individuals using family or friend’s accounts who don’t reside with them to pay an extra charge instead.
Just as every streaming service does, Netflix must keep providing engaging content to draw viewers in.
According to Amankona, predicting the strength of one year over another for this company is challenging due to their heavy dependence on hit series such as “Stranger Things” and “Squid Game.” This is because these shows are cyclical in nature. Unlike Disney, which has a stable of long-running franchises, Netflix invests less in properties that can be repeated, adding more uncertainty to their financial performance.
This year, the lineup for our company’s fresh content features the return of “Wednesday,” the new season from the Addams Family series, as well as the highly anticipated third season of “Squid Game.
Among its major cinematic ventures, the company has high hopes for “The Chronicles of Narnia,” directed by Greta Gerwig, set to have an exclusive run at IMAX theaters for a fortnight prior to its 2026 debut on Netflix.
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2025-01-22 01:31