Netflix Subscribers and Revenue , Surge Beyond Estimates.
On Jan.
23, Netflix said that it added 13.12 million subscribers in Q4 2023.
It had only anticipated to get about 9 million, Yahoo Finance reports.
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The news saw Netflix's stock rise 10% in premarket trading on Jan.
24.
Company revenue also surpassed Wall Street expectations of $8.71 billion to reach $8.83 billion.
Compared to the same time last year, that's a 12.5% increase in revenue, Yahoo Finance reports.
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Price hikes, an ad-supported tier and an end to password sharing likely contributed to the growth.
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Netflix expects to shell out $17 billion on content in 2025, though it won't be acquiring linear assets.
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We’re not interested in acquiring linear assets.
Nor do we believe that further M&A among traditional entertainment companies will materially change the competitive environment... , Netflix, via earnings reports.
... given all the consolidation that has already happened over the last decade (Viacom/CBS, AT&T/Time Warner, Disney/Fox, Time Warner/Discovery, etc.), Netflix, via earnings reports.
Since streaming competition is still fierce, Netflix says, "continuing to improve our entertainment offering is so important, and as many of our competitors cut back on their content spend, we continue to invest in our slate."
