Netflix, a popular place to watch shows and movies online, got 8.05 million new subscribers in the second part of 2024.
People thought Netflix would only get 5.2 million new users, but they did much better. They now have 277.65 million users all around the world, making them a big deal in the streaming market.
Even though Netflix added fewer new users than in the first part of 2024, they still did better than expected.
In the second part of this year, Netflix made $9.5 billion and earned $4.88 for each share sold. These numbers matched what experts predicted and showed that Netflix is doing very well.
Netflix expects to make a bit more money next time, around $9.7 billion, which is 13.9% more than the same time last year. To keep growing, Netflix plans to add more shows and movies and invest more in their advertisement-supported plans, which grew a lot this time.
Even though Netflix did really well, their stock price didn’t change much after the news, but their stocks have gone up 37% so far this year.
Netflix continues to surprise everyone with how many new people start using their service, showing they can stay on top in a very competitive market.
For example, in Nigeria, Netflix did very well with their original show “Òlòtūré: The Journey.” This show was a hit, getting 1.7 million views and 3.2 million hours of watching in just a week and making it to Netflix’s top 10 global list.
Other Nigerian movies like “Shina” also did well on Netflix, making it to the top 10 in Nigeria. This movie was produced by Timini Egbuson, directed by Muyiwa Adesokun and Carmen Lilian-Ike-Okoro, and produced by Feyifunmi Oginni.
What to know
On July 18, 2024, Netflix told its shareholders that getting people to watch more is key to their success. When people watch more, they stay with Netflix longer, talk about it more, and find more value in it.
Netflix also shared that they got 107 Emmy nominations this year, more than any other platform or network. They had nominations for 35 shows, movies, and specials. In the second part of the year, they released popular shows like “Bridgerton” Season 3, “Baby Reindeer,” “Queen of Tears,” and “The Great Indian Kapil Show.” The comedy show “The Roast of Tom Brady” had 22.6 million views, making it Netflix’s biggest live audience yet.
Netflix plans to try new things like sports, live events, and gaming. They are working on a game connected to the new season of “Squid Game” and other shows like “Emily in Paris.”
Netflix believes that if they tell better stories and make their service easier to use, they can keep growing in new areas like live events, games, and ads.