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Netflix Reaches New Heights After Stellar Q4 Report

Photo by Venti Views via Unsplash

Netflix Reaches New Heights After Stellar Q4 Report

By Movieguide® Contributor

Netflix reached an all-time high stock price earlier this week after its Q4 report shattered already sky-high expectations from Wall Street.

The company added a jaw-dropping 19 million subscribers last quarter, boosting its total user base to 302 million worldwide users. The streamer believes many of these users joined due to the release of popular shows like SQUID GAME Season 2 or the streaming of massive live events like the Jake Paul vs. Mike Tyson boxing event or the Christmas Day NFL games.

“We are thrilled that some folks came in for the fight and some folks came in for the games, but they stuck around for SQUID GAME and for CARRY ON and for BLACK DOVES and for SIX TRIPLE EIGHT…Nate Bargatze’s new comedy special,” said Netflix co-CEO Ted Sarandos. “All those things performed really well in the quarter and continue to in the days and weeks after the fight and after the games.”

“And what’s really been most encouraging is the retention behavior of those folks who did come in for those events looks a lot like the folks who come in for all of our other big titles,” he continued.

READ MORE: NETFLIX CELEBRATES NFL CHRISTMAS BROADCAST SUCCESS — AND PLANS MORE SPORTS STREAMS

“We really have built the business on variety and quality across countries, across regions, across genres and really focused year-round on having a very strong slate of programming for our members,” Sarandos added.

This upcoming year promises a strong slate of exciting releases including STRANGER THINGS Season 5, WEDNESDAY Season 2, COBRA KAI Season 6 – Part 3, BLACK MIRROR Season 7 and  F1: DRIVE TO SURVIVE Season 7 along with new movies that include Guillermo del Toro’s FRANKENSTEIN, HAPPY GILMORE 2 and a third movie in the GLASS ONION series.

The company also shared plans for a price hike across the board while also revealing that its ad tiers continue to be popular, especially with new signups, allowing advertisement to become a major revenue source starting as early as this year.

“We’re on track to reach sufficient scale for ads members in all of our ad countries in 2025,” the company said in its earnings statement. “A top priority in 2025 is to improve our offering for advertisers so that we can substantially grow our advertising.”

Riding on the back of all this good news, Netflix’s stock reached an all-time high, trading at nearly $1,000 per share.

READ MORE: ‘JUST GETTING STARTED’: NETFLIX REACHES 70 MILLION USERS ON AD-SUPPORTED TIER


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