Netflix Reports Subscriber Surge, Raises Prices in Select Markets

Netflix ended 2024 on a high note, adding 19 million subscribers during the holiday season and crossing the 300 million global subscriber mark. The company's focus on content investments, including hit shows like Squid Game and Wednesday, contributed to the growth.

In its report to investors, Netflix announced price increases in Argentina, Canada, Portugal, and the United States. U.S. premium and standard memberships will rise by $2, costing $25 and $18 monthly, respectively. The ad-supported tier will increase by $1 to $8 per month.

“We continue to invest in programming and deliver value to our members, occasionally asking them to pay a little more so we can reinvest in improving Netflix,” the company stated.

For the final quarter of 2024, Netflix reported $1.87 billion in profit on $10.25 billion in revenue, reflecting double-digit growth compared to the previous year. The company’s stock surged over 14% in after-hours trading, reaching $993 per share.

Key Achievements and Future Plans
Netflix executives highlighted record annual net additions of 41 million subscribers and a leadership position in engagement, with paid members averaging two hours of daily viewing.

Despite stiff competition from traditional entertainment and big tech companies, Netflix plans to improve its platform with new series, films, ad capabilities, live programming, and gaming.

The company is also focusing on growing its ad business, which accounted for 55% of new signups in supported regions. Netflix launched ad-subsidized plans in late 2023, alongside a crackdown on password sharing, to boost revenue.

Looking forward to 2025, Netflix forecasts revenue between $43.5 billion and $44.5 billion, with a targeted operating margin of 29%. Upcoming content highlights include new seasons of Stranger Things and Wednesday, as well as WWE programming and NFL games on Christmas Day.

Cultural Impact
Netflix continues to lead the global streaming market, bolstered by hits like Squid Game, which remains its most-watched series. The dystopian Korean thriller has further cemented South Korea's cultural dominance, alongside successes like Parasite and BTS.

The streaming giant has also outperformed its competitors, with its shares gaining 80% over the past year, significantly beating the S&P 500 and NASDAQ indices. Meanwhile, rivals like Disney+ continue to face challenges despite robust franchises like Marvel and Star Wars.

Netflix’s consistent innovation and strategic moves have positioned it as the reigning leader in the streaming industry.

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