Netflix's viewership and engagement statistics for Q1 2025

Netflix Tops 300 Million Subscribers, Reports Record Earnings, Announces Price Hikes and $15 Billion Buyback

Jan 21, 2025, 09:41 PM

Netflix Inc. reported its fourth-quarter earnings for 2024, surpassing analysts' estimates and achieving record growth in subscribers. The streaming giant reported revenue of $10.25 billion, exceeding the expected $10.11 billion, and earnings per share (EPS) of $4.27, above the estimated $4.20. Operating income exceeded $10 billion for the first time, with an operating margin of 22%, up from 17% the previous year. Netflix added 18.91 million new subscribers during the quarter, more than double the anticipated 9.18 million, bringing its total global subscriber base to over 300 million. The company achieved a record net addition of 41 million subscribers for the year. Netflix announced a new $15 billion share buyback program and revealed plans to raise prices on its subscription tiers in the United States and other regions. The price hikes include an increase in the ad-supported tier from $6.99 to $7.99 per month, the standard plan from $15.49 to $17.99, and the premium tier from $22.99 to $24.99 per month. Netflix attributed its strong performance to successful content releases such as "Squid Game" Season 2, live sporting events like NFL games, and the Jake Paul vs. Mike Tyson boxing match. The company provided guidance for the first quarter of 2025, expecting revenue of $10.42 billion and EPS of $5.58, and raised its full-year revenue outlook to $43.5 billion to $44.5 billion.