First, the good news. Netflix reported for the final quarter of 2024, attributing the success to high-profile live sports events and new programs. Now, the bad news: The company also announced its raising its subscription prices across the board.
Three things to know:
- The company reported nearly 19 million new subscribers during the last fiscal quarter of 2024, their largest subscription jump ever during a three-month period. That puts them at a total of 302 million global subscribers, the most of any streaming platform.
- Netflix also announced a bump in prices for all subscription tiers in the U.S. The standard account with ads now costs $7.99 per month, ad-free subscriptions are $17.99, while the premium plan is $24.99. This reflects price hikes of $1, $2.50 and $2 per month, respectively.
- This comes months after Netflix's , when the company eliminated its least expensive, ad-free option.
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What's Netflix doing right?
Well, it seems that the company's forays into live sports have resonated with viewers. In , the company focused on the success of their highly promoted live-streamed boxing match between Mike Tyson and Jake Paul on Nov. 15. The match drew 60 million households and, according to Netflix, makes it the most-streamed sporting event in history (despite which left subscribers fuming and critics wondering if Netflix could pull off such large-scale events.)
Its next big sporting events went off with far fewer problems: two that streamed on the platform weeks later, and included a widely talked about Beyonc茅 halftime show. A is also in the mix for 2025.
Another factor for Netflix's success? Popular shows that outperformed the company's expectations, like the second season of . The industry's largest streaming platform is hoping audiences are just as eager for other shows returning in 2025 with new seasons 鈥� such as Wednesday and Stranger Things.
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