Netflix reports Q4 revenue up 16% YoY to $10.2B and 301.6M global subscribers, adding 18.9M subscribers, more than double analysts' estimates; NFLX jumps 14%+

- Netflix is raising subscription prices in its biggest market — Report marks the end of regular quarterly customer updates

Bloomberg 2025-01-22 Lucas Shaw

Context & Ripple Effects

Netflix entered this quarter after reporting 260.3 million paid users in its prior Q4 results, and the latest subscriber surge pushes that growth narrative into a new scale tier. The company is pairing the result with a price increase in its biggest market.

The decision to stop regular quarterly customer updates changes how that narrative will be measured. Later coverage of 325 million paid subscribers and higher planned content spending suggests the focus is shifting toward whether a larger base can keep supporting revenue growth and investment.

First-order effects

Netflix gains immediate room to raise pricing in its largest market while reporting revenue growth and subscriber additions well above expectations; the market reprices NFLX upward.
By ending regular quarterly subscriber disclosures, Netflix removes a recurring operating metric that investors have used to assess its customer growth.

Second-order effects

Other subscription-video services face a tougher benchmark: Netflix’s combination of scale, growth and pricing headroom raises pressure to show either comparable customer momentum or stronger revenue per customer.
For Netflix, higher prices and reduced subscriber disclosure put more weight on revenue performance as the visible proof point for whether its subscription strategy is holding.

Third-order effects

If this disclosure approach persists, streaming-company evaluation may move further from raw subscriber counts toward revenue growth and the durability of price increases—a test reinforced by Netflix’s subsequent growth and spending plans.
The sector’s competitive divide could widen between services that can use scale to support price increases and content investment and those that remain dependent on visible subscriber growth.

The trend: Streaming is moving from a subscriber-acquisition contest toward revenue-led subscription accountability, with pricing power and investment capacity becoming the key differentiators.

Discussion

@carnage4life Dare Obasanjo on bluesky
Netflix added 18.9 million subscribers last quarter which is their highest quarterly growth of all time including the pandemic (15M in 2020). — In celebration, Netflix will be raising prices — Ad-tier: $6.99 → $7.99 — Standard: $15.49 → $17.99 — Premium: $22.99 → $24.99 …
@caseynewton Casey Newton on bluesky
There were better shows on Netflix when it cost $10 a month
@c0up @c0up on bluesky
How many are squid game s2 subs who dipped and bounced
@davelee.me Dave Lee on bluesky
Changing your mind is sometimes a good idea... Netflix's recent big wins have been driven by things it said it would NEVER do: have ads, broadcast sports www.bloomberg.com/news/article...
@mattbelloni @mattbelloni on threads
Let's beat up an elderly boxer every quarter
@travclark2 Travis Clark on threads
Kinda funny that Netflix had its biggest quarter of subscriber additions in its history right before it stops reporting subscribers
@joecarlsonshow Joseph Carlson on x
$NFLX blows away expectations adding +18.9 million additional subscribers in Q4 2024...This company is unstoppable at this point. They have global dominance in professional produced content. The virtuous cycle and network effects are in full play here. Now they can raise margi…
@frankoz95967943 @frankoz95967943 on x
Netflix CEO: “Please pay no attention to the shit load of shares we bought back while our PE is over 40....” [image]
@claytravis Clay Travis on x
Netflix smashed subscriber numbers based partly on the strength of big sporting events moving to the streaming service. Stock is up $115! in after hours. No one can compete with Netflix, Apple and Amazon money in the years ahead if they want to buy a sports package. [image]
@jimcramer Jim Cramer on x
In this king of bull market you get day after day of people recommending Netflix and moving it up and when it reports it goes up much more. Incredible
@luiz_fernando_j Luiz Fernando on x
At this point, #Netflix became a Global TITAN, as the first streamer to cross the 300M mark in global subscriptions, hitting 301.6M total subscribers after crushing #WallStreet's 9.2M estimates adding INSANE 19M subs on Q4 2024, a +43.9% boost from Q4 2023, thanks to the live [im…
@therajgiri Raj Giri on x
#WWE manages to stay ahead of the curve, first on the Network and now on the Netflix deal. Netflix added a record 19M subs last quarter, bringing he number of paid subs to over 300M. [image]
@adrianweckler Adrian Weckler on x
Netflix to raise prices in US after big gain in paid subscriber figures — Price rise almost certain to follow in Ireland. Password crackdown worked, Netflix by far the dominant streaming platform
@brianstelter Brian Stelter on x
Another reason why $NFLX shares are soaring to another all-time high: Its board has “authorized an additional $15 billion in stock buybacks.” https://www.hollywoodreporter.com/ ...
@jasonkilar Jason Kilar on x
The below continues to play out. The market values Netflix at $45B more as of a few hours ago. The virtuous cycle continues (invest to earn engagement -> lower churn -> better cash flow -> investment -> engagement...)
@levie Aaron Levie on x
Netflix is now worth $400B after hours. The software is eating the world thesis is truly playing out. [image]
@sherman4949 Alex Sherman on x
“Full season economics are very hard to make work,” says Netflix co-CEO Ted Sarandos about live sports. Not a change from what he's said before. That said, he declines to comment on UFV rights.
@bristei Brian Steinberg on x
Sarandos: No comment on interest in UFC, but pleased with WWE results so far
@richlightshed @richlightshed on x
Most shocking stat in @Netflix release $NFLX: “Films are important to our members. On average, they watch seven films a month, so we want a great catalog for them to choose from” [image]
@sherman4949 Alex Sherman on x
Netflix ends 2024 with more than 300 million global subscribers after adding a whopping 19m last quarter — riding Tyson/Paul and Xmas football and Squid Game 2. Netflix is stopping its practice of updating with quarterly subs after this quarter. Going out with a bang!
@tvgrimreaper @tvgrimreaper on x
Netflix 2024 net income increases 61% vs 2023 to $8.7 billion. 2024 operating margin: 27% (still not as good as a linear TV network business!) The legacy competition will never replace their linear TV profits with streaming profits. https://ir.netflix.net/... [image]
@sherman4949 Alex Sherman on x
For 2025, Netflix says it expects to generate $8b in free cash flow
@richlightshed @richlightshed on x
$NFLX just added more market cap after hours than $WBD and $PARA have combined [image]
@richlightshed @richlightshed on x
🤣 @Netflix trolling its media industry peers $NFLX “We're fortunate that we don't have distractions like managing declining linear networks and, with our focus and continued investment, we have good and improving product/market fit around the world.”
@ericjackson Eric Jackson on x
#BeyBowl worked
@lucas_shaw Lucas Shaw on x
Netflix shares popped about 10% after hours. If this holds, the company will open tomorrow worth more than $400 billion. Netflix is raising prices across every plan in the US. Its most popular plan will now cost $18. https://www.bloomberg.com/...
@richlightshed @richlightshed on x
So @netflix just put up its biggest subscriber add quarter ever, with over 19 million subs in Q4 2024 —prior high was 15.8 million during COVID impacted Q1 2020. In 2021, Netflix did 18 million net adds for the ENTIRE YEAR In 2022, Netflix did 9 million net adds for the ENTIRE Y…
@richlightshed @richlightshed on x
🚨 @Netflix breaks 300 million global subscribers - wondering if @reedhastings is taking co-CEOs Ted Sarandos and Greg Peters to @DennysDiner to keep with tradition... $NFLX [image]
@lucas_shaw Lucas Shaw on x
Wow. Netflix added 18.9 million customers in the final quarter of 2024 — a new record. Tops even the covid boost of 2020. Credit to Tyson-Paul, Carry On, NFL, Squid Game. Link TK.
r/technology r on reddit
Netflix Adds Nearly 19 Million Subscribers to End 2024 With More Than 300 Million Globally
r/cordcutters r on reddit
Netflix Adds Nearly 19 Million Subscribers to End 2024 With More Than 300 Million Globally
r/television r on reddit
Netflix Adds Nearly 19 Million Subscribers to End 2024 With More Than 300 Million Globally
@ekp Ellen Pao on bluesky
The invisible hand pushing us down the slippery slope
@joshtpm Josh Marshall on bluesky
I told people a few years ago this would happen and it's the same reason there were mountains of great journalism between 2010 and 2018. Consumers as temporary beneficiaries of equity investors operating at a loss to gain market share before lock in.
@matthewkeys.net Matthew Keys on bluesky
Netflix was the platform that differentiated itself from cable and satellite by allowing entertainment TV and film fans to pay for just that — entertainment TV and films. — Now, customers are going to be subsidizing Netflix's push into live events like NFL and WWE, whether they…
@durrell @durrell on bluesky
I swear to God, these MFs raise the price three times a year, every year, and still act like they ain't got no money. — The only reason I still have Netflix is because it's subsidized by T-Mobile and I pay the difference for the premium, but even that's starting to get too expe…
@romitmehta.com Romit Mehta on bluesky
Must be good to have the confidence of raising overall revenue despite some obvious and expected churn. [embedded post]
@brianallenc Brian Allen on bluesky
Hey, those NFL, WWE and boxing events they've been getting lately don't come cheap. [embedded post]
@thacalebdume Caleb Dume on bluesky
$17.99 is running up against my financial limit for watching a bunch of dudes fumble the bag on-camera followed by an attempt to salvage their images with Nick and Vanessa Lachey. [embedded post]
@djsaskdja @djsaskdja on bluesky
These boiled frogs are way overdone.
@tvanswerman @tvanswerman on x
Netflix's 4K plan, which was already cost prohibitive at $22.99 a month, is increasing to $24.99 a month. Ad-included plan also rising from $6.99 a month to $7.99 a month. Standard tier, which does not include ads, bumped from $15.49 a month to $17.99 a month. Netflix and Chil…
@mcbdirect Jack McBryan on x
Goal is to get premium-tier subscribers to drop down to the ad-supported tier, as that tier makes Netflix more money on a per-user basis. Will see more and more streamers make outrageous price hikes like this to convert users over to the ad-tier.
@jbflint Joe Flint on x
Let me know when they introduce a lower price no WWE or sports tier.
@nina7infinity Nina Infinity on x
WTF. Netflix can't possibly be hurting that bad for money. This is going to cause more people to drop out of Netflix. They don't even have anything that great on there...
@tvgrimreaper @tvgrimreaper on x
The price increases will continue until morale improves.
r/DailyTechNewsShow r on reddit
Netflix is raising prices again, as the standard plan goes up to $17.99
r/technews r on reddit
Netflix is raising prices again, as the standard plan goes up to $17.99
r/tmobile r on reddit
Netflix raising prices again 🤬
r/Piracy r on reddit
Netflix Raising Prices in U.S. Again, Including First Hike on Ad-Supported Tier
r/SquaredCircle r on reddit
Variety: Netflix Raising Prices in U.S. Again, Including First Hike on Ad-Supported Tier
r/technology r on reddit
Netflix is raising prices again, as the standard plan goes up to $17.99
r/inflation r on reddit
Netflix just announced ANOTHER price increase
r/cordcutters r on reddit
Netflix Raising Prices in U.S. Again, Including First Hike on Ad-Supported Tier
@tvgrimreaper @tvgrimreaper on x
The December measurement period was 11/25/2024 - 12/29/2024, and included both Prime Video's Black Friday NFL game and Netflix's Christmas Day games.
@tvgrimreaper @tvgrimreaper on x
Notable: Streaming share gains, and broadcast & cable share losses well above recent trends. YouTube (classic) with a giant 2.4% gain. Netflix & Prime Video with big gains (thanks NFL!) Most streaming services post share gains, except Hulu & Max.
@tvgrimreaper @tvgrimreaper on x
What happens first? Broadcast share > Cable share OR Streaming share > Broadcast share + Cable share [image]

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