Netflix continues to gain more subscribers in 2024 thanks to its advertising formula

netflix performance 2024

As you know, Netflix recorded surprisingly good growth in 2023. While we could expect a decrease in the number of subscribers following the end of account sharing in October 2023 and even the implementation of new price increases, the flow of new subscribers continued.

By the end of 2023, the service reached at least 8.76 million subscribers in the last quarter. The platform appears to owe its outstanding performance, in particular, to the surprise success of its low-cost advertising formula (€5.99 per month in France). “Adoption of our advertising scheme continues to increase – almost 70% quarterly increase in memberships – and 30% of registrations in our countries where the formula is valid available move towards our advertising formula on average”, Netflix made a statement to its shareholders at that time.

Netflix continues to gain subscribers by surprising everyone

And unsurprisingly, the American streaming service continues this good momentum into 2024. Red N won in the first quarter 9.33 million additional subscribersThus his fleet was almost 270 million users. It was enough to silence industry analysts who announced a maximum subscriber gain of 5 million in the same period. Unfortunately, the Los Gatos company’s finances are green and its turnover is $9.37 billionIt increased by 14.8% in one year. Profit also increased, reaching $2.33 billion. Excellent results that once again prove analysts’ predictions wrong.

As a reminder, they predicted that the snowball effect of the end of account sharing, which specifically led to many users subscribing to their own subscription, would end in early 2024. Obviously this is not the case. Without surprise, The latest advertising formula has become the new goose that lays the golden eggs with platform 65% increase in registrations Compared to end 2023. The 30% rate in 2023 represents 40% of subscriptions in countries where the formula is currently available. Knowing that this offer is currently only valid in around fifteen countries, Netflix still has a lot of territory to conquer with ad subscriptions. Enough to guarantee new subscribers coming in the coming months.

Source : Hello Package

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