Netflix hits all-time high for subscribers at 260.8 million
Netflix has hit an all-time high number of subscribers, with the company reporting a total of 260.8 million paid users. So yes, that whole password crackdown thing has worked out just fine so far.
Netflix added an additional 13.1 million subscribers in the fourth quarter of 2023, pushing it to its new record. That’s more than a 30% increase from the third quarter reports. Further, Netflix exceeded initial expectations in their subscriber bump by nearly five million users.
In a statement, Netflix pointed to their uptick in subscribers at the end of the year to their steady stream of content, something other services aren’t keeping up with. “It’s why 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.” No doubt we can expect to see subscriber numbers increase even more next year, as Netflix announced this week that they also acquired live streaming rights to WWE’s Raw programming, while international markets will host SmackDown and pay-per-view events. The landmark deal is worth $5 billion over the course of 10 years and is yet another sign of Netflix’s desire to bring live content to the streamer.
While there was skepticism and outcry over Netflix announcing last year that they were cracking down on password sharing (so long, Me&Bae!), it has worked tremendously in their favor. Soon after enacting this tactic, they saw their biggest draw of new subscribers since 2019.
Regarding their content that continues to pull in subscribers, Netflix has a total of 18 Oscar nominations this year. Maestro alone earned seven, including Best Picture, Best Actor and Best Actress. Netflix also finds Rustin’s Colman Dimingo in the Best Actor race, Nyad’s Annette Bening and Jodie Foster in their respective categories and May December up for its screenplay, just to name a few.
In addition to their subscriber increase, Netflix revenue also went up around $1 million compared to the fourth quarter of 2022.
Did you fall victim to Netflix’s password crackdown? If so, did you end up subscribing on your own?
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