Netflix reaffirmed its dominance of the television platform market on Tuesday, as its mix of live sporting events, popular returning series — and singular moments, such as Beyoncé’s halftime performance of a american football game— helped attract a record number of subscribers during the Christmas quarter.
The company added 18.9 million subscribers in the fourth quarter, bringing its global subscriber base to nearly 302 million customers, a figure that eclipses that of its Hollywood streaming competitors.
Netflix tried to capitalize on its rampant popularity by raising prices in the United States, Canada, Portugal and Argentina, at a time when it is spending more on programming. In the United States, the company’s service that includes advertising will cost $7.99 per month, up from $6.99 previously, while the “premium” package will cost $24.99, 9% more than the current price.
Investors reacted enthusiastically to the results, and Netflix shares rose nearly 13% in after-hours trading regularly, increasing its stock market value by almost $50 billion.
Over the past year, Netflix stock has gained more than 77%, outpacing the S&P 500’s 24% rise in.
“Netflix reaffirms its leadership position and is taking the streaming market by storm,” said Paolo Pescatore of PP Foresight. “It is now flexing its muscles and adjusting prices given its much stronger and more diversified programming compared to its rivals.”
The company said its fourth-quarter lineup exceeded its own expectations, with viewers bingeing the second season of its dystopian survival “thriller.” “Squid Game”which the company says is on track to become one of its most-watched original series.
Netflix’s growing investment in live-streamed events is attracting tens of millions of viewers. The cHeavyweight boxing match between Jake Paul and Mike Tyson in November it attracted 65 million viewers. The two National Football League games on Christmas Day, one featuring Beyoncé’s halftime performance, attracted an average of 30 million viewers worldwide, making them among the most broadcast competitions in history. of the league.
