Netflix has crossed a significant milestone, ending 2024 with an impressive 301.63 million global subscribers.
The streaming giant highlighted the figure in its fourth-quarter earnings report on Tuesday, showcasing a record-breaking addition of 18.91 million new subscribers in the October-December period—a 15.9% year-over-year increase.
This rise surpassed initial estimates, which had anticipated a gain of 9.18 million subscribers.
Netflix’s growth also builds on its Q3 performance, which saw 5.1 million new subscribers, pushing its total to 282.72 million at the time.
In its letters to shareholders, Netflix noted, “Our Q4 slate outperformed even our high expectations”
It highlighted key successes such as Squid Game Season 2, which is on track to become one of its most-watched original series, and Carry-On, which joined the platform’s all-time Top 10 films.
Other highlights included the Jake Paul vs. Mike Tyson fight, the most-streamed sporting event ever, and two record-breaking NFL games on Christmas Day.
What we know
The subscriber growth was spread across all regions:
- U.S. and Canada: 4.82 million new subscribers
- Europe, Middle East, and Africa: 5 million
- Latin America: 4.15 million
- Asia-Pacific: 4.94 million
Netflix’s fourth quarter marks the last time the company will disclose subscriber numbers in its quarterly reports, a change announced earlier in 2024. Going forward, the company will share updates only for major milestones, citing a shift in focus toward revenue and engagement metrics.
Financially, Netflix reported $10.2 billion in revenue for the quarter, slightly above Wall Street’s forecast of $10.11 billion, and an EPS of $4.27.
Netflix expectations for 2025
Looking ahead to 2025, Netflix plans to strengthen its core business by expanding its slate of series and films, enhancing user experience, and growing its ad-supported tier.
- It also aims to further develop live programming, games, and new initiatives to sustain healthy growth. Revenue projections for 2025 stand at $43.5-$44.5 billion, with an operating margin expected to increase to 29%.
- Co-CEO Greg Peters outlined plans to expand Netflix’s gaming portfolio, focusing on narrative-driven titles based on Netflix intellectual property and introducing party and co-op games designed for family-friendly experiences.
As Netflix continues to innovate and expand, 2025 is poised to be another transformative year for the world’s largest streaming platform.