Netflix attracts 18.9 million new subscribers in Q4 2024
Date
1/22/2025 1:36:07 AM
(MENAFN) Netflix has once again solidified its position as the leader in the streaming industry, thanks to its blend of live sports, hit series, and exclusive events, such as Beyoncé's halftime show, which helped it achieve record-breaking subscriber growth during the holiday season.
The platform gained 18.9 million new subscribers in the fourth quarter, bringing its total global subscriber count to nearly 302 million, significantly surpassing its competitors in Hollywood.
To capitalize on its surging popularity, Netflix has implemented price increases in the United States, Canada, Portugal, and Argentina, as it continues to invest heavily in content creation.
In the U.S., the ad-supported plan now costs USD7.99 per month, up from USD6.99, while the premium package has risen to USD24.99 per month, marking a 9 percent increase.
Investors responded positively to the strong performance, with Netflix shares climbing nearly 13 percent in after-hours trading, adding roughly USD50 billion to the company’s market value. Over the past year, Netflix's stock has soared by over 77 percent, outperforming the S&P 500’s 24 percent growth.
The company attributed its fourth-quarter success to a strong programming lineup, including the second season of the hit action series Squid Game, which is on track to become one of Netflix’s most-watched original shows.
Netflix's substantial investments in live events have also paid off, drawing tens of millions of viewers. Last November’s heavyweight boxing match between Jake Paul and Mike Tyson attracted 65 million viewers, while two NFL games on Christmas Day, featuring Beyoncé’s halftime show, averaged 30 million viewers worldwide, making them among the most-watched games in NFL history.
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