Netflix posted its results for the October to December 2024 quarter, a huge milestone for the company. The streaming service reached 301 million paid memberships, an increase of 16%, or 18.91 million new members – the largest increase since the company began operating globally.
Unfortunately, the announcement also came that Netflix would raise monthly prices in the United States again – the third increase in three years. In a note to shareholders, it was announced that the standard plan with ads will be $7.99, the standard without ads is increasing from $15.49 to $17.99, while the premium is set at $24.99 starting this month.
Canada, Portugal and Argentina, among other countries, will also see price hikes.
| Plan | Jan ’25 | October ’23 | Jan ’22 | Oct ’20 | Jan ’19 | October ’17 |
| Standard with ads | $7.99 | $6.99 | – | – | – | – |
| basic | – | $11.99 | $9.99 | $8.99 | $8.99 | $7.99 |
| standard | $17.99 | $15.49 | $15.49 | $13.99 | $12.99 | $10.99 |
| premium | $24.99 | $22.99 | $19.99 | $17.99 | $15.99 | $13.99 |
The company revealed that Q4 outperformed its high expectations. Popular drama Squid Game 2 is on track to become the most-watched original series season, Carry-On is among the top 10 movies of all time, Jack Paul Vs. The Mike Tyson fight was the most streamed sporting event, and the Christmas Day games Chiefs vs. Steelers and Ravens vs. Texans were the most streamed NFL games in history.
On a broader basis, Netflix reported a 16% increase in Q4 ’24 revenue and nearly doubled its net income compared to Q4 ’23. Forecast revenue, operating profit and revenue over the next three months are all incremental.
Source (PDF)
