Netflix Adds Record 19 Million Subscribers in Q4, Raises Prices in U.S.

Jan 21, 2025, 09:52 PM

Netflix reported robust fourth-quarter 2024 earnings, with revenue increasing 16% year-over-year to $10.25 billion, surpassing estimates. Earnings per share rose to $4.27, up 102% from the prior year, beating expectations. The streaming giant added a record-breaking 18.91 million subscribers in the quarter, significantly surpassing the estimated 9 million additions, bringing its total global subscriber base to over 302 million. Subscriber growth was bolstered by additions such as live sports events and popular content like 'Squid Game' Season 2. Netflix announced a new $15 billion share buyback program and provided a 2025 revenue outlook of $43.5 billion to $44.5 billion. The company also plans to raise subscription prices in the United States and Canada, including increasing its ad-supported tier to $7.99 and the premium tier to $24.99. Following the earnings release, Netflix shares surged over 10% in after-hours trading.