Netflix Reports Record Profits As Subscriber Growth Tops Estimates (2024)

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Netflix Reports Record Profits As Subscriber Growth Tops Estimates (2024)

FAQs

Netflix Reports Record Profits As Subscriber Growth Tops Estimates? ›

The industry's No. 1 premium streamer added 8.05 million net paid customers in Q2, bringing its global base to 277.65 million. The company reported revenue of $9.56 billion (up 17%) and net income of $2.15 billion (versus $1.49 billion a year ago), translating to earnings per share of $4.88.

Has Netflix ever reported a profit? ›

Netflix's profit compared to other DTC businesses

In 2023, the operating profit of Netflix amounted to around seven billion U.S. dollars, while Paramount, for example, reported DTC losses of nearly two billion U.S. dollars that year.

What is Netflix earnings growth forecast? ›

Netflix raised its revenue growth forecast for 2024 to 14% to 15%, up from 13% to 15%.

Did Netflix beats estimates as ad supported memberships rise 34%? ›

Netflix said its advertising-supported memberships grew 34% during the second quarter compared to the year-earlier period. The streamer's global paid memberships rose 16.5% year over year to 278 million.

Is Netflix subscribers increasing? ›

Quarterly subscriber growth surpassed FactSet consensus estimates of 5.2 million paid net subscribers additions by 54%, hitting 8 million this quarter and bringing the streaming platform's global subscriber base to 277.65 million.

Is Netflix losing subscribers in 2024? ›

Quarterly Netflix subscribers count worldwide 2013-2024

Netflix had around 277.65 million paid subscribers worldwide as of the second quarter of 2024. This marked an increase of over eight million subscribers compared with the previous quarter.

Does Netflix make a lot of profit? ›

Does Netflix make a net profit? Yes, Netflix makes a net profit. The company has consistently reported positive net income in recent years, driven by its growing subscriber base, strategic content investments, and diversified revenue streams, including subscription fees, content licensing, and advertising.

How does Netflix maximize profits? ›

By owning the rights to its original content, Netflix can leverage revenue from licensing agreements with other platforms and broadcasters. This further monetizes its content library and increases overall profitability.

How much will Netflix be without ads? ›

Basic plan subscribers can switch to the ad-free Standard plan, which is $15.49 per month, or downgrade to the ad-supported plan that is $6.99 per month, which was launched in November 2022.

How much is Netflix a month in 2024 per month? ›

Netflix Prices in 2024

Additional tiers include $15.49 for Standard service, which includes 2 screens, and $22.99 for Premium, which includes 4 screens as well as upgraded HDR/4K resolution.

Who has more subscribers Amazon or Netflix? ›

Netflix still has the most subscribers of any streaming service. Netflix continues to reign supreme in the world of streaming services, maintaining its position as the platform with the most subscribers. As of December 31, 2023, the service boasted an impressive 260.28 million subscribers globally.

How is Netflix doing financially? ›

Revenue hit $9.56 billion in Q2, an increase of 16.8% compared with the same period last year, as the streamer continued to lean into top-line initiatives like its crackdown on password sharing and ad-supported tier, in addition to last year's price hikes on certain subscription plans.

Who is Netflix's target audience? ›

Netflix Target Audience

Netflix's target market is young, tech-savvy users and anyone with digital connectivity. The audience of Netflix is from diverse age groups and demographics. However, most of the audience are teenagers, college-goers, entrepreneurs, working professionals, etc.

Has Netflix made any money? ›

In the second quarter of 2024, Netflix generated total revenue of nearly 9.6 billion U.S. dollars, up from about 8.2 billion in the corresponding quarter of 2023.

Have any streaming services made a profit? ›

You're probably paying more for streaming services that you did two years ago. So you may be surprised to learn that among all the streaming platforms, only Netflix and Disney turn a profit.

Is Netflix doing well financially? ›

Netflix guided to third quarter revenue of $9.73 billion, a miss compared with consensus estimates of $9.83 billion. The company did increase its full-year 2024 revenue growth projection to 14%-15%, up from the prior 13%-15%. It also expects full-year operating margins to hit 26%, an increase from the previous 25%.

What is the profit percentage of Netflix? ›

Netflix net profit margin as of June 30, 2024 is 19.54%.

Current and historical net profit margin for Netflix (NFLX) over the last 10 years. Profit margin can be defined as the percentage of revenue that a company retains as income after the deduction of expenses.

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