Netflix has asserted its dominance in the streaming market, with its mix of live sporting events, popular series and unique events, such as Beyoncé’s halftime show, helping attract a record number of subscribers in the holiday quarter.
The company added 18.9 million subscribers in the fourth quarter, bringing the total global subscriber base to approximately 302 million subscribers, a number that far exceeds the number of subscribers of its Hollywood competitors.
Netflix has sought to capitalize on its growing popularity by raising prices in the United States, Canada, Portugal and Argentina as it spends more money on producing programs.
In the United States, the ad-supported service will cost $7.99 per month, up from $6.99, while the premium package will cost $24.99, an increase of nine percent from current prices.
Investors responded enthusiastically to the results, which led to the platform’s shares rising approximately 13 percent in extended trading, which in turn raised its market value by about $50 billion.
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Over the past year, Netflix stock has jumped more than 77 percent, exceeding the Standard & Poor’s 500 index’s 24 percent rise.
The company said that its list of programs in the fourth quarter exceeded its expectations, as viewers enjoyed watching the second season of the thriller series “Squid Game,” which the company said was on its way to becoming one of its most watched original series.
The platform’s huge investment in live events attracts tens of millions of viewers. The heavyweight boxing match between Jake Paul and Mike Tyson last November attracted 65 million viewers. The two NFL games on Christmas Day, one of which featured Beyoncé’s halftime show, brought in an average of 30 million viewers globally, becoming some of the most watched games in NFL history.
The platform said that it has gotten rid of the repercussions of the Corona Virus (Covid-19) pandemic and the strike of Hollywood writers and actors in 2023, and that it will present new seasons of its most popular shows, including the series (Adams Family) and the science fiction series “Stranger Things.” Or “Stranger Things.”
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The network will broadcast more live events, such as weekly professional wrestling shows (WWE), in addition to obtaining the rights to broadcast the Women’s World Cup for the 2027 and 2031 editions, a deal that demonstrates its strategy to provide special events, instead of regular seasonal sporting events.
Live events are attractive to advertisers because they attract audiences who watch in real time.
