Netflix revealed it has now reached 301.63 million subscribers globally when it reported its fourth-quarter 2024 earnings Tuesday.
Analysts estimated the streamer would add 9.18 million paid subs during the October-December time period versus the 13.12 million it tacked on in the comparable Q4 2023. Netflix smashed those expectations by adding a record-breaking 18.91 million subscribers, a year-over-year increase of 15.9%.
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For comparison, Netflix added 5.1 million paid subscribers in Q3 of 2024 to reach 282.72 million globally. That marked year-over-year growth of more than 14%.
“Our Q4 slate outperformed even our high expectations: Squid Game season 2 is on track to become one of our most watched original series seasons, Carry-On joined our all-time Top 10 films list, the Jake Paul vs. Mike Tyson fight became the most-streamed sporting event ever and on Christmas Day we delivered the two most-streamed NFL games in history,” Netflix said in a letter to shareholders.
It should be noted that the fourth-quarter of 2024 marks the last quarter Netflix will be providing subscriber numbers regularly. Netflix announced this decision in April 2024, stating it will reveal “major subscriber milestones as we cross them” but will cease disclosing quarterly results in that metric.
Wall Street forecast earnings per share (EPS) of $4.20 on $10.11 billion in revenue, according to analyst consensus data provided by LSEG. Netflix reported diluted EPS of $4.27 on $10.2 billion in revenue.
More to come…
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