Netflix has reported its biggest ever quarterly subscriber growth in Q4 2024, surpassing the 300 million mark. The company added a record 18.91 million subscribers during this period, bringing its total paid membership base to 301.6 million, reflecting a 15.9% year-on-year (YoY) increase.
As per the streaming giant, for the year, revenue grew 16% and operating margin expanded six points to 27%. Operating income exceeded $10 billion for the first time in their history.
The Asia-Pacific region, encompassing India, saw an increase of 4.94 million subscribers, bringing the total subscriber base to 57.5 million. Revenue for the region surged to $1.2 billion, marking a 25.9% growth compared to the previous year.
“In Q4, membership growth was driven by broad strength across our content slate, improved product/market fit across all regions and typical Q4 seasonality. We generated 19 million paid net additions – the biggest quarter of net adds in our history – compared with 13M in Q4’23 and 5 million in Q3’24,” Netflix stated.
“Our Q4 slate outperformed even our high expectations. Squid Game season 2 is on track to become one of our most watched original series seasons, Carry-On joined our all-time Top 10 films list, the Jake Paul vs. Mike Tyson fight became the most-streamed sporting event ever and on Christmas Day we delivered the two most-streamed NFL games in history,” it added.
Netflix’s priorities for 2025 are to improve their core business with more series and films their members love, an enhanced product experience and growth of their ads business.
“Further develop newer initiatives such as live programming and games; Sustain healthy growth – we now forecast 2025 revenue of $43.5-$44.5 billion and an operating margin of 29%, up one point from our prior forecast. We’re focused on improving all aspects of our service and, combined with the return in 2025 of our biggest shows- Squid Game, Wednesday and Stranger Things, we’re optimistic heading into the new year,” it added.
