Netflix ended 2024 with 302 million global subscribers and an annual operating income exceeding $10 billion for the first time in the company’s history, the streaming giant said on Tuesday.
The company said those results were buoyed by programming in recent months that surpassed internal expectations: Season two of “Squid Game” will be one of the company’s most-watched original seasons ever; “Carry-On” landed in the platform’s Top 10 most-viewed movies; and both the “Jake Paul vs. Mike Tyson” fight and the N.F.L. games racked up huge audiences.
Netflix added 19 million new subscribers in the final quarter of the year, its biggest rise in a single quarter yet. Revenue jumped 16 percent in the latest quarter, and net income rose to $1.87 billion.
The company also said on Tuesday that it had increased prices across most plans in the United States, Canada, Portugal and Argentina. The standard membership increased to $17.99 from $15.49 while the price for the standard with ads rose a dollar, to $7.99. Premium memberships increased $2, to $24.99, and adding an extra member to your account went from $7.99 to $8.99.
Shares in the company rose about 14.5 percent in after-hours trading.
Netflix’s subscribers watch seven films a month on average, the company said. In addition to “Carry On,” original films that performed well on the service included Richard Curtis’s “That Christmas,” and Tyler Perry’s “The Six Triple Eight.” “It Ends With Us,” a film from Sony Pictures that generated many headlines because of conflicts between the film’s two stars, Blake Lively and Justin Baldoni, also generated big audiences for the service.
“No single title drives our acquisition or engagement,” co-chief executive Greg Peters said on a call with investors on Tuesday. “It’s really the whole service that’s working that delivered the upside that we saw this quarter.”
Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.
Thank you for your patience while we verify access.
Already a subscriber? Log in.
Want all of The Times? Subscribe.
