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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Paramount Skydance emerged as the winner in a months-long battle to acquire Warner Bros Discovery after streaming giant Netflix on Thursday refused to raise its bid for the storied Hollywood studio.
Paramount has reaffirmed its bid to acquire Warner Bros. Discovery, offering $30 per share in cash and backing the proposal with a $40.4 billion personal equity guarantee from billionaire Larry Ellison, despite the target company’s board urging shareholders to reject the offer.
China and Russia vetoed a United Nations Security Council resolution on Tuesday aimed at coordinating defensive efforts to protect commercial shipping in the Strait of Hormuz, leaving no agreed international framework for securing the vital route.
Lebanon’s Hezbollah said it had stopped firing on northern Israel and Israeli forces on Wednesday as part of a two-week ceasefire in the Middle East brokered between the United States and Iran. However, a Hezbollah lawmaker warned that the pause could collapse if Tel Aviv does not adhere to it.
Pakistan’s Prime Minister Shehbaz Sharif said Iran and the United States, along with their allies, have agreed to an immediate two-week ceasefire covering all areas, but Israel says the deal excludes Lebanon. Tel Aviv says the U.S. is committed to achieving shared goals in upcoming negotiations.
Israeli Prime Minister Benjamin Netanyahu says he has given an instruction for Israel to begin peace talks with Lebanon that would also include the disarming of Hezbollah.
U.S. President Donald Trump announced on Tuesday that he had agreed to a two-week ceasefire with Iran, less than two hours before his deadline for Tehran to reopen the Strait of Hormuz or face U.S. attacks on its civilian infrastructure.
Walt Disney is planning to cut up to 1,000 jobs in the coming weeks, with many of the reductions expected to affect its marketing division, The Wall Street Journal reported on Wednesday, citing sources familiar with the plans.
Major automakers showcased new electric vehicles at the New York Auto Show this week, under the slogan “electrification is the future." However, weakening demand in the United States and intense competition with China are raising questions for markets across the globe, including the South Caucasus.
The U.S. national average retail price of petrol rose above $4 a gallon for the first time in over three years on Monday (30 March), according to GasBuddy data, as the U.S.–Israeli war with Iran continued to roil global energy markets.
Japan and Indonesia will deepen coordination on energy security, Tokyo said, as the U.S.-Israeli war on Iran disrupts vital oil and gas flows to Asia.
China's three largest state-owned airlines have issued warnings regarding their financial outlook for the current year, acknowledging that the eruption of war involving Iran has driven jet fuel prices to unsustainable highs.
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