Netflix had its biggest quarter ever of new subscribers
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- Netflix reported fourth-quarter and 2024 results on Tuesday.
- The streaming service added 19 million paid subscribers in the quarter.
- Netflix will no longer report subscriber counts starting in 2025.
The number of new Netflix subscribers rose again during the fourth quarter to reach historic proportions.
The streaming service added 19 million new paid users — "the biggest quarter of net adds in our history," the company said on Tuesday. Analysts surveyed by Bloomberg expected 9.18 million. Netflix gained 13 million paying viewers in the same period a year earlier.
Quarterly revenue reached $10.2 billion, up 16%. Analysts had expected $10.11 billion, per Bloomberg.
Shares rose as much as 11% in after-hours trading.
The streaming service spent much of 2024 cracking down on password sharing, which pushed some users to become new subscribers. Analysts have said that they expect the boost from that effort to wane over time, though.
Netflix ended 2024 by releasing season two of "Squid Game," which broke its record for premiere week viewership.
It will stop reporting quarterly subscriber numbers starting in 2025.