Netflix Adds 13.1M Subscribers in 4th Quarter

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Ankara: Netflix achieved a remarkable milestone by adding a record 13.1 million subscribers in the fourth quarter of the previous year, as per its financial results released on Tuesday.
The online streaming platform’s paid subscribers reached a substantial 260.8 million by the end of 2023.
Despite falling slightly below market estimates, the per-share earnings for the three months through December 2023 stood at $2.11. This deviation was attributed to currency exchange rates and noncash losses.
In terms of net income, there was a significant surge, reaching $937.8 million in October–December 2023, compared to $55.3 million in the same period in 2022. Reflecting the platform’s robust performance, fourth-quarter revenue experienced a year-on-year increase of 12.5 percent, reaching $8.83 billion from $7.85 billion.
Anticipating continued success, Netflix revised its 2024 full-year operating margin forecast upward to 24 percent, surpassing the previous range of 22 percent to 23 percent. The financial results underscore Netflix’s sustained growth and prominence in the streaming industry.
Netflix from Creation to 13.1M Subscribers
Netflix, established in 1997 by Reed Hastings and Marc Randolph, initially operated as a DVD-by-mail service, providing a subscription-based rental platform for DVDs.
2002-2007: Introduction of Streaming
In 2002, Netflix became a publicly traded company.
The pivotal shift came in 2007 when the company embraced streaming, enabling subscribers to instantly watch movies and TV shows on their computers.
2010-2012: Expansion into Original Content
Netflix expanded its streaming service globally, reaching Canada in 2010 and subsequently expanding into Latin America, Europe, and other regions.
The foray into original content production began in 2013 with the release of “House of Cards.”
2013-2016: Original Content and Global Expansion
A significant focus on original content, including successful series like “Orange Is the New Black” and “Stranger Things.”
The global footprint expanded, with Netflix launching in over 130 countries by 2016.
2017-2019: Continued Growth and Awards
Netflix’s subscriber base surpassed 100 million worldwide in 2017.
Acknowledged for its quality content, the company received critical acclaim and numerous awards, including Emmys and Golden Globes.
2020-2021: Pandemic Impact and Increased Subscribers
The COVID-19 pandemic prompted a surge in demand for streaming services, resulting in increased subscribers for Netflix during lockdowns and social distancing measures.
Facing heightened competition from streaming services like Disney+ and HBO Max, Netflix remained committed to expansion and invested significantly in original content across diverse genres and languages.
According to the provided information, Netflix experienced a record addition of 13.1 million subscribers in the fourth quarter of 2023.
Strong financial results indicated substantial revenue growth and an upward revision of the 2024 full-year operating margin forecast to 24 percent.