Netflix shares skyrocketed after the streaming giant reported a stellar holiday quarter, fueled by record subscriber additions and its foray into live sports. The company added 18.9 million subscribers, surpassing analyst expectations, and its stock surged over 14%, potentially boosting its market capitalization by $53 billion.
Netflix's stock surged over 14% to US$994.36 in pre-market trading on Wednesday after the company reported a blockbuster holiday quarter. A robust content line-up and its entry into live sports streaming brought in a record number of new subscribers. The streaming giant's stock rally, if gains hold, is poised to boost its market capitalisation by $53-billion to about $425-billion. The year 2024 was pivotal for Netflix as it ventured into live sports.
It partnered with World Wrestling Entertainment, broadcast two US National Football League games on Christmas Day and secured US broadcast rights for the 2027 and 2031 Fifa Women’s World Cups. Netflix is running away with the streaming market thanks to excellent execution, a stellar content slate and scale advantages, said Evercore ISI analysts in a note. The company added 18.9 million subscribers in its holiday quarter, blowing past Wall Street’s estimate of 9.2 million additions for the quarter and the 13.1 million increase it posted a year ago, according to LSEG data. Its fourth-quarter revenue and profit also beat estimates, as Netflix’s efforts to shift investor focus away from subscription growth to other performance metrics paid off. Netflix’s deepening investment in live-streamed events is drawing tens of millions of viewers. Morgan Stanley said Netflix’s unmatched scale creates the financial capacity to invest back into the business. At least nine analysts raised their price targets on the stock following the company’s quarterly results, bringing the median target to $970 from $922.50, according to data compiled by. Netflix also announced price hikes for most of its plans in the US, Canada, Portugal and Argentina. Heading into a robust 2025 slate, we expect little pushback to price increases in the US and a few other markets, JPMorgan analysts said. In 2024, Netflix’s stock soared about 83%, Disney’s climbed 23%, while Warner Bros Discovery saw a decline of about 7%
NETFLIX STREAMING SUBSCRIBERS LIVE SPORTS MARKET CAPITALIZATION
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