The streaming giant Netflix recently published its financial results for the third quarter of 2024. The company reported revenues of $9.83 billion. Analysts’ forecast was $9.77 billion. In the line of earnings per share, the company reported $5.40 per share, while the analysts’ forecast was $5.16 per share. The number of Netflix paying subscribers was 282.7 million, compared to an expected 282.15 million. In the shadow of the reports, a share Netflix Up about 3.5% in late trading. According to the reports, Netflix has 282.7 million users, slightly beating the expectations of 282.15 million users. The company’s advertising business grew this quarter, as the number of subscribers who joined the advertising package increased by 35% compared to last year’s quarter.
A real fix
In the last quarter, Netflix proved that with the help of a clear strategy, hard work and a good product – it is possible to overcome any challenge. Since the beginning of the year, Netflix stock has risen 54% (before the reports were released), and the reason this is so significant is that Netflix managed in the current quarter to finally correct its big fall in 2022.
In October 2021, Netflix stood at $690 per share, when it was cut by 70% of its market value due to the challenges and difficulties it faced – and reached a low of $182 per share in 2022. Since then, quarter after quarter, with hard work both in terms of the content, both in terms of the problem of sharing passwords that it dealt with and in terms of the advertising package that it offers to users – the company has grown and grown, and now before the publication of the reports it stands at more than $720 per share. This is a real fix, and Netflix is signaling to Wall Street that it is taking the reins into its own hands. The market value of the company is 310 billion dollars.
The competition in the streaming market is particularly tough – and at the center of it is competition for the content. Every streaming service tries to bring the content every month that will attract viewers, Netflix with shows like “Breathtaking”, “Bridgerton” and “Love Is Blind”, Disney with its familiar brands and Marvel and more. Each streaming service also attracts live content to engage viewers who are waiting for the weekly telecast of their favorite football or soccer game. Apart from this, Netflix faces some additional difficulties and difficult challenges.
Stopped reporting the number of users
Netflix announced last April that from 2025 it will stop reporting the number of its users in reports. Wall Street is looking closely at this figure in all companies, and it seems that Netflix is deciding to change the rules of the game.
Just in the previous quarter, Netflix shared that the number of users choosing the viewing package with commercials increased by 34% compared to the corresponding quarter last year. The advertising component of Netflix is becoming a more important business model for media companies, and experts around the world are looking at itLiu as a component that can skew profitability for a streaming service.
The reason that Netflix does not want to report the number of users is that the company manages to report a significant profit and a high free cash flow, so for it it is less significant than before to report the number of users.
Another proof that Netflix takes responsibility for this is its handling of the problem of sharing passwords among users, and the increase in the number of subscribers in recent quarters seems to indicate this.
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