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.
You are not signed in
Only registered users can comment on this article.
Ofcom unveils draft code for streaming regulation
UK media regulator Ofcom has set out its plans to level the regulatory playing field between streaming platforms and traditional broadcasters, so viewers receive similar content protections.
ITV remains in ‘active discussions’ with Sky over sale
Sky and ITV are reportedly close to an acquisition deal that would see the telecoms operator take over the UK’s most-watched free-to-air PSB.
Hybrid AI VFX creative studio The Next Valley launches
AI production and tech firm nmatic.ai and VFX collective Alibi Studios have launched The Next Valley, billed as one of the world’s first studios dedicated to combining AI tools with traditional VFX production for film, advertising, and broadcast content.
France Télévisions predicts job cuts before 2027
Stéphane Sitbon-Gomez, Deputy General Manager of France Télévisions, has reportedly said that layoffs may be on the table for the PSB’s staff as a result of budget constraints, anytime between May 2026 and the French presidential elections in 2027.
.jpg)
CEO of ITN to be replaced “immediately”
Rachel Corp has stepped down after nearly four years as CEO of ITN with immediate effect. She will be succeeded by Ian Rumsey.
