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Reading: Netflix Sets New Subscriber Record, Expands Live Event Streaming
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PhotoNews Pakistan > Entertainment > Netflix Sets New Subscriber Record, Expands Live Event Streaming
Entertainment

Netflix Sets New Subscriber Record, Expands Live Event Streaming

Web Desk
By Web Desk Published January 22, 2025 3 Min Read
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Photo Credits: Netflix
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Netflix confirmed its dominance in the streaming market with a nearly 302 million subscriber growth fueled by live sports, returning series, and events like Beyoncé’s halftime show.

The streaming giant has responded to this rapid growth by increasing subscription prices in the US, Canada, Portugal, and Argentina to fund further content development. In the US, the ad-supported plan now costs $7.99 per month, up from $6.99, while the premium plan has risen to $24.99, marking a nine percent increase.

Investor enthusiasm was evident as Netflix’s stock rose about 13 percent in after-hours trading, boosting its market value by nearly $50 billion. Over the past year, Netflix shares have soared over 77 percent, significantly outperforming the S&P 500’s 24 percent increase.

“Netflix is clearly leading the streaming market,” observed Paolo Pescatore of PP Foresight. He noted that the company is leveraging its diverse and robust programming slate to adjust prices effectively against its competitors.

Netflix just crossed 300 million total paying subscribers.

That's 16% more than a year ago.$NFLX pic.twitter.com/vfRprfSJDr

— FinChat (@finchat_io) January 21, 2025

Netflix’s fourth-quarter offerings exceeded expectations, with high engagement in the second season of “Squid Game,” predicted to become one of its most-viewed series. The platform’s foray into live-streamed events has also drawn massive audiences. Notably, the Jake Paul versus Mike Tyson boxing match attracted 65 million streams, and two NFL games on Christmas Day averaged 30 million viewers worldwide, among the most streamed in the league’s history.

Emerging from the setbacks of COVID-19 and the 2023 Hollywood strikes, Netflix is continuing popular series like “Wednesday” and “Stranger Things” and expanding its live event offerings. This includes weekly WWE “Monday Night Raw” broadcasts and securing rights for the FIFA Women’s World Cup for 2027 and 2031, emphasizing special events over regular season sports.

Netflix has passed 300M subscribers globally.

The streaming service gained 18.9M subscribers in Q4 2024, the highest gain in subscribers in one quarter ever. pic.twitter.com/ymU24uZXne

— DiscussingFilm (@DiscussingFilm) January 21, 2025

The live events, appealing to advertisers due to their real-time viewer engagement, helped Netflix exceed its fourth-quarter ad revenue targets. “We’ve seen our ad revenue double year over year and expect it to double again this year,” said Co-CEO Greg Peters.

This quarter signifies a major change as Netflix will cease reporting subscriber figures. Instead, the focus will shift to revenue and profit measures, indicating a more mature business model. The company’s earnings per share reached $4.27, exceeding Wall Street’s forecast of $4.20 from 34 analysts. With operating income surpassing $10 billion for the first time, Netflix’s financial position seems strong.

Revenue for the quarter rose 16 percent year-over-year to $10.2 billion, aligning closely with analyst expectations. Netflix has revised its 2025 revenue projection to between $43.5 billion and $44.5 billion, reflecting improved business fundamentals. Additionally, Netflix’s board has approved an extra $15 billion for share repurchases, totalling $17.1 billion in buyback authorization.

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