As a seasoned gamer with a soft spot for binge-watching my favorite shows, I must admit that the news of Netflix‘s impressive Q3 2024 results has left me quite delighted. The steady growth and expansion of their subscriber base is a testament to their commitment towards providing quality content that keeps us hooked.
As a devoted Netflix fan, I’m thrilled to share that their Q3 2024 results surpassed expectations, with Variety reporting a stunning 5.1 million addition to their global subscriber base. This brings the total number of paid subscribers to an impressive 282.72 million! The growth rate, a significant 14%, is a year-over-year increase that gives us fans reason to anticipate even more great content next year.
Based on data from LSEG, analysts on Wall Street predict that a company will earn $5.12 USD per share on revenue of $9.77 billion USD for the July-September quarter. For Netflix, revenue climbed by 15% compared to the same period last year and they reported a free cash flow of $2.2 billion USD. In a letter to their investors this week, Netflix shared that their advertising plan has been well received: it accounted for over half of new sign-ups in its ad-supported countries during Q3, and membership on this plan grew by 35% compared to the previous quarter. They aim to reach a significant number of advertising subscribers across all their ad-supported countries by 2025, setting the stage for further growth in 2026 and beyond. Additionally, they are pleased with the engagement on their advertising plan as view hours per membership are similar to those on their standard plan in their 12 ad-supported countries.
As a devoted Netflix enthusiast, I’m excited about the future! The company has projected a growth rate of 11-13% for next year, which translates to a massive revenue of $43-$44 billion USD. In their quarterly shareholder letter, they shared that this growth is anticipated from a surge in paid memberships and average revenue per member.
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2024-10-18 17:55