Netflix, which has just published its results for the last quarter of 2024, is in great shape. SVOD now has more than 300 million paying subscribers and, during the quarter, it added 19 million new subscribers, which is a record. The company also indicates that, if we take into account additional members of an account, its audience is estimated at more than 700 million people.
As for quarterly revenue, it was $10.25 billion, an increase of 16% year-on-year. And according to CNBC, Netflix was above Wall Street’s expectations. Net profit was $1.87 billion, compared to $938 million in the same period in 2023.
An increase in prices in certain countries
Unfortunately, in some countries, Netflix will increase its subscription prices. “In order to continue to invest in programming and provide more value to our members, we will occasionally ask our members to pay a little more so that we can reinvest to make Netflix even better. To this end, today we are adjusting the prices of most plans in the United States, Canada, Portugal and Argentina”we read in the presentation of quarterly results. France is therefore spared from this wave of increases.
In the United States, the cheapest subscription, with ads, goes from $6.99 to $7.99. The standard subscription goes from $15.49 to $17.99 and the most expensive subscription goes from $22.99 to $24.99.
A new era for Netflix
Otherwise, it should be noted that from this year, Netflix will stop declaring its number of subscribers every quarter. For what ? For SVOD, the time spent on the platform is now the best indicator of customer satisfaction. And this makes sense since today, Netflix offers an affordable subscription with advertisements that generate more revenue when the user spends more time watching films and series.
-Moreover, this subscription with advertisements continues to be a hit. In countries where this affordable ad-supported subscription is available, it had a 55% share of new subscriptions. On the other hand, the ad-supported Netflix subscription grew 30% quarter-over-quarter. “One of our main priorities in 2025 is to improve our offering to advertisers so that we can significantly increase our advertising revenue”also indicates Netflix.
Live content is a hit
The last quarter of 2024 was also marked by the live broadcast on Netflix of the boxing match between Jake Paul and Mike Tyson. This was the most streamed sporting event of all time. Netflix also set a new record by broadcasting NFL Christmas games. And SVOD already has the broadcast rights, in the United States, for the 2027 and 2031 Women’s Football World Cups.
However, Netflix’s goal is not to compete with sports broadcasters. “We are not focused on acquiring rights to large regular season sports packages; on the contrary, our live strategy consists of offering a programming of special events not to be missed”, specifies the company.
- In the last quarter of 2024, Netflix added 19 million new subscribers, a record
- The latter takes advantage of the announcement to indicate that it is adjusting its prices in the United States, Canada, Portugal and Argentina
- The affordable subscription with advertisements continues to be a hit
- And Netflix continues its strategy of broadcasting live content
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