Netflix Adds Record 19 Million Subscribers, Reaching 301 Million, Announces Price Hikes

Jan 22, 2025, 07:29 AM

Netflix added nearly 19 million subscribers in the fourth quarter of 2024, bringing its global subscriber base to 301.63 million, the streaming giant reported Tuesday. This marks the company's largest-ever quarterly gain in subscribers. The surge was attributed to the popularity of live sporting events, including the Mike Tyson-Jake Paul boxing match, and hit series such as the new season of 'Squid Game'. Following the record-breaking growth, Netflix announced it would raise subscription prices in the United States, Canada, Portugal, and Argentina. The company plans to invest more in live programming. Netflix also reported a profit increase of 61% in 2024, earning $1.87 billion in the fourth quarter on revenue of $10.25 billion.