Netflix extends its lead and surpasses 260 million subscribers

Netflix extends its lead and surpasses 260 million subscribers

Netflix remains firmly in the global leadership among streaming platforms.

The company reported this week that it added 13 million new subscribers in the final quarter of last year. This is the highest number in a single quarter since the height of the pandemic.

It was also one of the best results in history for the months of October to December, as well as exceeding market expectations by 50%. In total, Netflix now has 260.28 million subscribers worldwide.

The good performance is reflected in the business. Netflix shares rose 8.3% in after-hours trading in the U.S. market. In 2023, the company’s stock increased by 65%!

The company reported net income of $938 million in the fourth quarter, about 17 times the $55 million reported a year earlier.

According to the assessment of Bank of America media analyst Jessica Reif Ehrlich, the company has gained an advantage over its competitors: “It’s becoming increasingly clear that Netflix has won the ‘streaming wars’”he said in an interview with the Reuters news agency.

And the outlook is for more growth for 2024. The industry giant said it expects healthy double-digit revenue growth this year.

Why Netflix had this boom

Other reasons

The information is from the news agency Reuters.

The post Netflix expands its lead and surpasses 260 million subscribers appeared first on Olhar Digital.

Source: Olhar Digital

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