Published January 22,2025
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Netflix on Tuesday mentioned it added almost 19 million subscribers in the course of the vacation season to complete out final 12 months with greater than 300 million subscribers.
In the ultimate quarter of 2024, the streaming juggernaut mentioned it logged revenue of $1.87 billion on income of $10.25 billion that grew double digits from the identical interval the prior 12 months.
Netflix shares jumped greater than 10 p.c to $960.60 in after-market trades.
“We enter 2025 with strong momentum, coming off a year with record net additions – 41 million- and having re-accelerated growth,” Netflix executives mentioned in a letter to shareholders.
They added that Netflix is in a “leadership position” with regards to engagement of about two hours every day per paid member and with regards to income and revenue in a market that’s persevering with to broaden.
“Our business remains intensely competitive with many formidable competitors across traditional entertainment and big tech,” Netflix executives mentioned.
“We have to continue to improve all aspects of Netflix – more series and films our members love, a great product experience, increased sophistication in our plans and pricing strategy including more advertising capabilities – and grow into new areas like live programming and games.”
– ‘Squid Game’ –
Netflix ended final 12 months with a robust lineup that included a second season of the worldwide hit “Squid Game.”
The dystopian Korean horror story a couple of fictional, lethal recreation stays by far the most-watched Netflix TV sequence ever.
“Squid Game”, an ultra-violent story exploring themes of division and inequality, is taken into account to be probably the most important works in solidifying South Korea’s standing as a world cultural powerhouse, alongside the Oscar-winning movie “Parasite” and Okay-pop megastars BTS.
The streamer mentioned that its ad-supported plans accounted for greater than 55 p.c of signups in nations the place they’re supplied, rising almost 30 p.c total from the prior quarter.
Growing its advert business is a high precedence for this 12 months, in line with Netflix.
In a bid to spice up sputtering development, the corporate launched an ad-subsidized providing in late 2023 across the similar time as a crackdown on sharing passwords.
Looking forward, Netflix forecasts 2025 income between $43.5-44.5 billion and is focusing on a wholesome 29 p.c working margin.
The streaming service highlighted upcoming content material, together with new seasons of hit reveals “Squid Game,” “Wednesday,” and “Stranger Things”
The United States will see 52 weeks of WWE skilled wrestling programming and the return of NFL video games on Christmas Day.
In the US, the corporate has begun to supply some customers mixed packages with its one-time rivals, making itself out there by joint subscriptions with Peacock and Apple TV.
Netflix is seen as reigning supreme over the video content material market, with Disney+ nonetheless struggling after a launch in November of 2019 that featured a slew of recent content material from its blockbuster Marvel and Star Wars universes.
Netflix shares have gained 80 p.c over the previous 12 months, considerably outperforming each the S&P 500 and NASDAQ indices.
Source: www.anews.com.tr