Netflix added 18.9M subscribers, reaching 302M. Squid Game S2 and an NFL game with Beyoncé boosted growth. Revenue rose 16% to $10.2B, with ad-supported plans driving sign-ups. Stock surged 13%, adding $50B in value.
Netflix has once again underscored its dominance in the streaming industry, reporting a record-breaking increase in subscribers during the holiday quarter. The platform added 18.9 million users, bringing its global subscriber base to an impressive 302 million, far outstripping its competitors in the sector.
The company’s success has been attributed to a compelling blend of high-quality programming, live events, and popular returning series. Notable highlights from the fourth quarter include the second season of the hit dystopian thriller Squid Game, which is on track to become one of Netflix’s most-viewed original series, and a Christmas Day NFL game featuring a halftime performance by Beyoncé that attracted an average of 30 million global viewers.
In line with its robust growth, Netflix has implemented price adjustments in key markets such as the United States, Canada, Portugal, and Argentina. Its ad-supported plan in the U.S. now costs $7.99 per month, up from $6.99, while the premium plan has risen to $24.99. These changes come as the company increases its investment in diverse programming, including live-streamed events and major sports rights such as the FIFA Women’s World Cup in 2027 and 2031.
Netflix's Co-CEO, Greg Peters, highlighted the platform’s success in the advertising sector, noting that ad-supported subscriptions accounted for 55% of new sign-ups in markets where the option is available. Advertising revenue doubled in 2023, and the company expects similar growth in 2024. Analysts project ad revenue could reach $2 billion this year, driven by advancements in advertising technology and the popularity of live events.
The company's fourth-quarter financial results surpassed expectations, with per-share earnings of $4.27, exceeding the forecasted $4.20. Revenue rose by 16% year-on-year to $10.2 billion, while annual operating income exceeded $10 billion for the first time. Investors responded positively, with Netflix’s stock surging by 13% in after-hours trading, adding nearly $50 billion to its market value.
Netflix also announced plans to discontinue reporting subscriber additions, shifting focus to other performance indicators such as revenue and profitability. Revised guidance projects revenue of $43.5 billion to $44.5 billion in 2025, reflecting stronger business fundamentals.
In a further move to reward investors, Netflix's board approved an additional $15 billion for share repurchases, bringing the total authorisation to $17.1 billion. This strategic decision underscores the company's confidence in its growth trajectory and market leadership.
As Netflix continues to expand its programming slate, including the return of fan-favourite series such as Stranger Things and Wednesday, its focus on high-quality content and strategic pricing adjustments positions it firmly at the forefront of the streaming market.
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Netflix crashed on Wednesday for about an hour in the U.S. as it launched season five of "Stranger Things", with the service becoming inaccessible to many subscribers within minutes of the episodes going live at 8 p.m. local time.
Netflix (NFLX) missed Wall Street third-quarter earnings targets due to an unexpected expense from a dispute with Brazilian tax authorities, though it offered a slightly stronger-than-expected forecast for the rest of the year.
Netflix has used generative artificial intelligence to produce a visual effects scene in an original series for the first time, marking a new step for the streaming platform.
The final season of the global hit 'Squid Game' has helped Netflix surpass Wall Street’s second-quarter earnings expectations, prompting the company to raise its full-year revenue forecast.
At least 47 people have died and another 21 are reported missing following ten days of heavy rainfall, floods, and landslides across Sri Lanka, local media reported on Thursday (27 November).
Hong Kong fire authorities said they expected to wrap up search and rescue operations on Friday after the city's worst fire in nearly 80 years tore through a massive apartment complex, killing at least 128 people, injuring 79 and leaving around 200 still missing.
Netflix crashed on Wednesday for about an hour in the U.S. as it launched season five of "Stranger Things", with the service becoming inaccessible to many subscribers within minutes of the episodes going live at 8 p.m. local time.
U.S. Secretary of Defense Pete Hegseth visited sailors aboard the USS Gerald R. Ford aircraft carrier in the Latin American region on Thursday, amid a military buildup by President Donald Trump’s administration that has heightened tensions with Venezuela.
French health experts are warning that the highly pathogenic H5 strain of bird flu, already devastating wild and farm animals, could evolve into a virus capable of human-to-human transmission — potentially sparking a pandemic worse than COVID-19.
European Union ministers will urge senior U.S. trade officials to implement more elements of the July EU–U.S. trade deal on Monday, including cutting tariffs on EU steel and lifting duties on goods such as wine and spirits.
Google has announced a major update for its Pixel 10 series: owners can now send and receive files with Apple devices using AirDrop, without any collaboration from Apple. The new functionality applies to iPhones, iPads, and macOS devices, though for now it is limited to the Pixel 10 line.
European shares climbed on Thursday, as a relief rally swept through global markets after artificial intelligence (AI) bellwether Nvidia reported strong earnings, while investors awaited the release of delayed U.S. jobs data.
Mainland China and Hong Kong equities slipped on Tuesday, Reuters reported, as investors grew cautious ahead of delayed U.S. economic data expected to clarify the Federal Reserve’s policy outlook.
A federal jury in California ruled on Friday that Apple must pay $634 million to Masimo, a medical-monitoring technology company, for infringing a patent related to blood-oxygen reading technology.
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