SPORTS

NETFLIX SHATTERS SUBSCRIBER EXPECTATIONS WITH RECORD-BREAKING GAINS

In Desk

Jan 22, 2025 • 1 min read

Streaming giant Netflix has confirmed its dominance over the entertainment industry, with its fourth-quarter earnings revealing a staggering 301.6 million global subscribers, exceeding expectations by over double. The company's revenue also saw a remarkable 16% lift to $10.2 billion, with net income roughly doubling from the comparable period in 2023 to nearly $1.9 billion.

The subscriber surge is the single-largest quarterly gain in Netflix history, sending shockwaves through the industry and leaving investors rejoicing. The company's commitment to live sports programming has been a key factor in this success, with the recent NFL games and Jake Paul-Mike Tyson boxing match breaking viewership records.

According to Nielsen data, the Christmas Day doubleheader averaged over 24 million average viewers, while the WWE Raw streaming will continue Netflix's efforts in delivering "can't-miss" sports events. The company's most-streamed sporting event yet – a Jake Paul-Mike Tyson boxing match – attracted over 60 million households worldwide.

"We're not focusing on acquiring rights to large regular-season sports packages; rather, our live strategy is all about delivering can’t-miss, special-event programming," Netflix said in a letter to shareholders. "Although our live programming will likely be a small percentage of our total view hours and content expense, we think the eventized nature will result in outsized value to both our members and our business."

This quarterly report marks the last time Netflix will disclose subscriber totals on its financial statements, opting instead to focus on other metrics. Despite this change, the company remains a dominant force in streaming, with investors cheering the latest results.

Netflix's shares rose by over 13% in after-hours trading Tuesday, bringing the stock price up nearly 80% in the last year. The company has made several recent acquisitions, including WWE and FIFA Women's World Cup rights, aimed at expanding its sports offerings.

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