Wed Jan 22 03:29:45 IST 2025: ## Netflix Surges Past Expectations with Record Subscriber Growth and Price Hike
**Los Angeles, CA –** Netflix announced record-breaking results for its fourth quarter of 2024, exceeding Wall Street’s projections on multiple fronts. The streaming giant added a staggering 18.9 million subscribers, fueled by the success of live sporting events like the Jake Paul vs. Mike Tyson boxing match and the return of its hit South Korean series, *Squid Game*. This performance marks a significant resurgence for the company, following a period of slower growth.
The impressive subscriber gains, coupled with strong performance in other key metrics, allowed Netflix to exceed its own internal expectations. The company reported earnings per share of $4.27, surpassing the analyst consensus of $4.20. Revenue also outperformed estimates, reaching $10.2 billion – a 16% increase year-over-year. Annual operating income topped $10 billion for the first time in Netflix’s history.
This success comes as Netflix implements price increases for most of its plans in the U.S., Canada, Portugal, and Argentina. The basic ad-supported plan will rise by $1 to $7.99, while the premium package will increase to $24.99.
Despite the positive results, Netflix announced that this quarter will be the last time it reports subscriber additions. The company will now focus on other key performance indicators such as revenue and profit, a shift attributed to the maturing subscriber base and slowing growth.
Looking ahead, Netflix expressed strong confidence, projecting revenue between $43.5 billion and $44.5 billion for 2025, a $500 million upward revision from its previous forecast. The company added a record 41 million subscribers in 2024 and stated it has re-accelerated its growth trajectory. The low churn rate of 1.8% in December, according to researcher Antenna, further supports the company’s positive outlook.
First Piper 