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.
The US Attorney-General has directed prosecutors to pursue the death penalty for the 26-year-old Luigi Mangione, the accused killer of UnitedHealth Group CEO. In official statement, Mangione’s lawyer Karen Friedman Agnifilo labeled the Attorney General’s move as “barbaric.”
Myanmar’s military junta has rejected ceasefire proposals aimed at facilitating rescue efforts after a devastating 7.7-magnitude earthquake. As the death toll climbs to 2,719, with 400 missing and over 4,000 injured, military operations continue despite calls from opposition groups to pause the conf
Israeli Prime Minister Benjamin Netanyahu resumed his testimony at the Tel Aviv District Court on Tuesday, continuing his defense in the high-profile corruption trial, where he faces charges of bribery, fraud, and breach of trust.
A recent report by the Eurasian Development Bank (EDB) has highlighted the critical role of irrigation in water management across Central Asia, where 79% of the region's water is allocated to agricultural use.
The Pentagon has ordered the deployment of more military assets to the Middle East, responding to escalating tensions with Iran. US Defense Secretary Pete Hegseth confirmed on Tuesday that the move aims to bolster regional stability and enhance defense capabilities.
Aid groups in Myanmar’s worst-hit areas urgently need shelter, food, and water after a devastating 7.7 magnitude earthquake killed over 2,700 people. Rescue efforts face challenges due to ongoing civil war, damaged infrastructure, and restricted aid access, with the toll expected to rise.
Russian forces carried out a drone attack on Ukraine’s second-largest city, Kharkiv, late Wednesday, injuring at least twenty one people and causing structural damage, according to Ukrainian officials.
French far-right leader Marine Le Pen was banned from running for public office for five years after being convicted of embezzlement, ruling her out of the 2027 presidential race. She received a four-year prison sentence, with two years suspended, and a €100,000 fine. Le Pen plans to appeal.
Apple marked its 49th anniversary by reaching a market capitalization of $3.3 trillion. Despite recent tech stock volatility, Apple's shares surged 28% in 2024.
The Armenian armed forces attempted three reconnaissance drone flights over Azerbaijan Army positions near Gerenzur, but all were successfully intercepted. Meanwhile, Armenian units repeatedly fired on Azerbaijani positions from multiple regions, escalating tensions in the area.
President Donald Trump said a deal with TikTok's Chinese parent ByteDance to sell the short video app used by 170 million Americans would be struck before a deadline on Saturday.
Paul Marchant has resigned as CEO of Primark with immediate effect after admitting to an "error of judgment" in a social interaction last year. Parent company AB Foods expressed disappointment, citing the importance of integrity. Finance director Eoin Tonge will serve as interim CEO.
Apple marked its 49th anniversary by reaching a market capitalization of $3.3 trillion. Despite recent tech stock volatility, Apple's shares surged 28% in 2024.
The International Monetary Fund (IMF) Executive Board has completed the Seventh Review of the Extended Arrangement under the Extended Fund Facility (EFF) for Ukraine, enabling a disbursement of about $0.4 billion, which will be allocated for budget support.
Elon Musk’s xAI has acquired his social media platform X in a $33 billion all-stock deal.
The US Attorney-General has directed prosecutors to pursue the death penalty for the 26-year-old Luigi Mangione, the accused killer of UnitedHealth Group CEO. In official statement, Mangione’s lawyer Karen Friedman Agnifilo labeled the Attorney General’s move as “barbaric.”
Myanmar’s military junta has rejected ceasefire proposals aimed at facilitating rescue efforts after a devastating 7.7-magnitude earthquake. As the death toll climbs to 2,719, with 400 missing and over 4,000 injured, military operations continue despite calls from opposition groups to pause the conf
Israeli Prime Minister Benjamin Netanyahu resumed his testimony at the Tel Aviv District Court on Tuesday, continuing his defense in the high-profile corruption trial, where he faces charges of bribery, fraud, and breach of trust.
A recent report by the Eurasian Development Bank (EDB) has highlighted the critical role of irrigation in water management across Central Asia, where 79% of the region's water is allocated to agricultural use.
The Pentagon has ordered the deployment of more military assets to the Middle East, responding to escalating tensions with Iran. US Defense Secretary Pete Hegseth confirmed on Tuesday that the move aims to bolster regional stability and enhance defense capabilities.
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