Netflix impressed the market on Tuesday by gaining nearly 19 million new subscribers during the fourth quarter of 2024, bringing its total to 301.6 million and reinforcing its position as a pioneer and leader in the streaming industry. The California-based company has seen strong subscriber growth since 2023, thanks to its stricter policy on password sharing and the enhancement of its live programming, especially in sports.
For the holiday season, the platform streamed two live games from the NFL and a boxing match between YouTuber Jake Paul and boxing legend Mike Tyson. However, the new subscriptions related to these events or the hit South Korean series "Squid Game" only represented a small fraction of the total member acquisitions for the quarter, as noted by co-CEO Greg Peters during an analysts' conference.
Netflix reported a quarterly revenue of $10.2 billion, an increase of 16%, with a net profit of $1.9 billion, slightly exceeding market expectations. The company has begun raising prices in the US, with the "Premium" plan increasing from $22.99 to $24.99.
