Netflix added 5.1 million paid subscribers to reach 282.7 million globally in the third quarter of 2024, a year-on-year growth of 14.4%.
The streamer’s third-quarter subscriber and financial results came in above analysts’ expectations. Revenues grew 15% year-on-year to $9.83bn while net income was $2.4bn.
Revenues in the key markets of EMEA and UCAN (United States, Canada and Australia) grew by 16% each year-on-year.
During the third quarter period, Netflix has released new series like The Perfect Couple, Nobody Wants This and Tokyo Swindlers, returners such as Emily in Paris and Cobra Kai and films like Beverly Hills Cop: Axel F, Rebel Ridge and Officer Black Belt.
Netflix said its ads membership was up 35% quarter-on-quarter, and that its new ad-tech platform is on track to launch in Canada in the fourth quarter and more broadly in 2025. The company said that in the third quarter, its ad tier accounted for over 50% of sign-ups in its ad countries.
The streamer said that it had around two hours a day of engagement per paid membership on average, despite the impact of paid sharing.
Netflix did not announce a price increase in the US, as many industry analysts had expected, but did note in its earnings materials its recent hike in some countries in Europe, the Middle East and Africa region, as well as Japan.
Channel 5 rebrands linear and streaming platforms
The UK’s Channel 5 and My5 have relaunched as 5, uniting the broadcaster’s linear and streaming platforms under one brand.
BBC leads nominations for RTS Programme Awards 2025
The Royal Television Society (RTS) has revealed the nominations for its Programme Awards 2025, which take place on March 25 at the JW Marriott Grosvenor House Hotel in London.
Comcast agrees $3bn Olympics rights and technology deal
Comcast NBC Universal has agreed a $3bn deal that will keep its NBC network and streaming platform Peacock as the US homes of the Olympic Games through 2036.
BBC secures TV rights for Scotland, Wales and Northern Ireland international football
The BBC has agreed an exclusive deal to broadcast Scotland, Wales and Northern Ireland men’s international football matches in the run-up to the FIFA Men’s World Cup 2026.
Shadowbox Studios hires Mike Mosallam as Chief Operating Officer
Global studio operator Shadowbox Studios, the owner of Atlanta’s Shadowbox Studios in the US and Shinfield Studios in the UK, has appointed Mike Mosallam as its first Chief Operating Officer.
