Netflix announced that it currently boasts over 301.63 million users worldwide, a figure they disclosed during their fourth-quarter earnings report for the year 2024.
Analysts predicted that the streaming service would gain approximately 9.18 million new paid subscriptions between October and December compared to the 13.12 million it achieved in the same quarter of 2023. However, Netflix significantly surpassed these expectations, adding a record-breaking 18.91 million subscribers, representing a year-on-year growth of 15.9%.
In the third quarter of 2024, Netflix gained approximately 5.1 million new paying customers worldwide, bringing their total to 282.72 million. This represented an increase of over 14% compared to the same period the previous year.
In a letter to shareholders, Netflix reported that our Q4 lineup surpassed our greatest predictions: Squid Game season 2 is poised to rank among our top-watched original series seasons, Carry-On has made it onto our all-time Top 10 films list, the Jake Paul vs. Mike Tyson fight broke records as the most-streamed sporting event ever, and on Christmas Day we streamed the two most popular NFL games in history.
It’s important to mention that starting from the last quarter of 2024, Netflix will no longer routinely release subscriber numbers. In April 2024, Netflix made this decision public, explaining they would only reveal “major subscriber milestones as we reach them,” but they will stop reporting quarterly results in this metric.
Analysts predict earnings per share (EPS) of approximately $4.20, based on total revenue of around $10.11 billion, according to data from LSEG. Netflix, however, reported a diluted EPS of $4.27 on revenue totalling $10.2 billion.
Operating income was $2.3 billion for Q3. Free cash flow stood at $1.4 billion.
For the year 2025, Netflix has outlined key focus areas in its financial plan:
1. Enhance our main service by producing more hit series and movies, enhancing user experience, and expanding our advertising sector.
2. Continue to progress on emerging projects such as live broadcasts and games.
3. Maintain a robust growth trajectory – we now expect revenue to reach $43.5-$44.5 billion in 2025 (an increase of $0.5 billion compared to our previous forecast, even with the US dollar’s strengthening). Additionally, we anticipate an operating margin of 29%, which is one percentage point higher than our initial projection.
More to come…
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2025-01-22 00:16