Netflix added 41-million new subscribers last year, more than in 2022 and 2023 combined, according to data presented by AltIndex.com.
The last three years have been a rollercoaster for Netflix. A huge subscriber loss in early 2022, followed by surging market competition from Disney+ and others, and a crackdown on password sharing which caused a massive backlash, have all had a major impact on Netflix revenue and stock price, turning the king of the streaming world into a company with questionable growth.
But, despite the headwinds, Netflix continued investing heavily in original content, like Wednesday and Squid Game, which became global hits. The platform also launched the ad-supported subscription plan, aimed to attract new subscribers at a lower price. This helped the company to regain momentum in late 2023, which continued through 2024 and turned it into one of Netflix’s most successful years so far. The revenue and subscriber figures prove this.
In Q4 2024, Netflix reported $4.27 per share earnings on $10,25-billion in revenue, handily beating analyst expectations of $4.21 per share on $10,11-billion in sales. These figures represent a 102% year-over-year earnings growth and a 16% increase in revenue.
The company’s full-year revenue soared to $39-billion, a 15% jump from 2023 and the second-largest annual growth after the record-breaking 2020, when its revenue growth was only 1% higher.
The user growth figures were also quite impressive. Statistics show the streaming giant added over 41-million new subscribers in 2024 alone, more than in 2022 and 2023 combined, surpassing its previous record of 36,5-million during the 2020 lockdown boom by 5-million. As of last week, Netflix’s global subscriber base has grown to over 301-million, a 100-million increase in just four years.