LOS ANGELES, CALIFORNIA - JANUARY 24: In an aerial view, the Netflix logo is displayed above its corporate offices on January 24, 2024 in Los Angeles, California. Netflix shares jumped over ten percent in trading today after the company announced that it added over 13 million subscribers in the fourth quarter. (Photo by Mario Tama/Getty Images)
Los Gatos, California, US (EPICSTORIAN) – Netflix gained 19 million new subscribers in the last quarter of 2024, reaching 302 million globally, with revenue surpassing $10 billion as the company strengthens its market dominance
According to the firm, this growth, driven by high-profile live events like the Tyson-Paul fight and NFL games, prompted a price increase across its subscription tiers in the US and Canada.
Netflix Shares Jump 13% as Revenue Tops $10 Billion
The streaming giant reported a 16% revenue increase, surpassing $10 billion for the first time, with operating income up 52% to $2.3 billion. The company also announced a $15 billion stock buyback, boosting investor confidence and sending shares up 13%.
The company’s success with live-streamed events, including the Tyson-Paul fight and NFL games, has reinforced its shift toward live programming. Co-CEO Ted Sarandos emphasized the company’s focus on expanding live content as a key driver for future growth.
Financials – Netflix Ends Quarterly Subscriber Reporting
The video content creator announced it will no longer release quarterly subscriber numbers, opting instead for biannual engagement reports. The move signals a shift in how the company measures and presents its streaming performance to investors.
Sports Streaming – The firms’s NFL Success Sets New Record
Netflix’s first-ever live NFL broadcasts on Christmas Day drew 30 million viewers, marking the most-streamed football games ever. The company’s growing investment in live sports underscores its evolving content strategy.
Streaming Industry – Netflix’s Market Dominance Grows
While competitors like Disney and Warner Bros. Discovery have reached profitability, Netflix remains the dominant force in streaming. Its ability to avoid traditional TV declines and focus on global expansion keeps it ahead in the industry.
The company’s latest price increase follows similar moves by Disney, Max, Peacock, and Apple, reflecting an industry-wide trend of rising subscription costs. Consumers are increasingly pushed toward ad-supported plans as companies seek profitability.
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Wall Street Reacts to Netflix’s Strong Earnings
Investors responded positively to Netflix’s earnings report, while the company’s continued subscriber growth and expansion into live events fueled market confidence.
