Netflix Shares Soar on Price Hikes and Record Subscriber Gains

FILED - 14 May 2024, North Rhine-Westphalia, Cologne: The word "Netflix" shines brightly at the presentation of one of its series. Photo: Rolf Vennenbernd/dpa
FILED - 14 May 2024, North Rhine-Westphalia, Cologne: The word "Netflix" shines brightly at the presentation of one of its series. Photo: Rolf Vennenbernd/dpa
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Netflix Shares Soar on Price Hikes and Record Subscriber Gains

FILED - 14 May 2024, North Rhine-Westphalia, Cologne: The word "Netflix" shines brightly at the presentation of one of its series. Photo: Rolf Vennenbernd/dpa
FILED - 14 May 2024, North Rhine-Westphalia, Cologne: The word "Netflix" shines brightly at the presentation of one of its series. Photo: Rolf Vennenbernd/dpa

Netflix reaffirmed its dominance of the streaming video market on Tuesday, as its mixture of live sporting events, popular returning series - and singular moments, such as a football halftime performance by Beyonce - helped attract a record number of subscribers over the holiday quarter.
The company added 18.9 million subscribers in its fourth quarter to bring its total global subscriber base to nearly 302 million customers - a number that dwarfs its Hollywood streaming rivals, Reuters reported.
Netflix sought to capitalize on its galloping popularity by raising prices in the US, Canada, Portugal and Argentina as it spends more on programming. In the US, the company's ad-supported service will cost $7.99 a month, up from $6.99, while the premium package will cost $24.99, up 9% from existing pricing.

Investors reacted enthusiastically to the results, sending Netflix's stock surging about 13% in extended trade, lifting its stock market value by almost $50 billion. Over the last year, Netflix shares have gained more than 77%, outpacing the S&P 500's 24% rise.

"Netflix reaffirms its leadership position and is absolutely running away in the streaming market," said Paolo Pescatore of PP Foresight. "It is now flexing its muscles by adjusting prices given its far stronger and diversified programming slate compared to rivals."

The company said its fourth-quarter programming slate surpassed its own expectations, with viewers bingeing on the second season of its dystopian survival thriller "Squid Game," which the company said is on track to become one of its most-watched original series.
Netflix's deepening investment in live-streamed events is drawing tens of millions of viewers. The heavyweight boxing match between Jake Paul and Mike Tyson in November attracted 65 million streams. The two National Football League games on Christmas Day, one featuring Beyonce's halftime performance, brought in an average of 30 million global viewers, ranking among the most-streamed competitions in league history.
“To state the obvious, it’s content that drives users to streaming services," said Forrester Research Director Mike Proulx. "With the biggest bump in subscribers ever, Netflix’s attention to quality content is the reason for an overall strong year and fourth quarter."
Netflix said it has shaken off the impacts of COVID-19 and the 2023 Hollywood writers' and actors' strikes, and is delivering returning seasons of its most popular shows, including the Addams Family series "Wednesday," and the supernatural "Stranger Things."
It will also broadcast more live events, including weekly installments of WWE "Monday Night Raw" wrestling. It secured the rights for the FIFA Women's World Cup in 2027 and 2031, a deal which it says illustrates its strategy to deliver special-events programming, rather than regular season sports packages.
Such live events are attractive to advertisers, because they draw audiences that watch in real time.
"We exceeded our ads revenue target in the fourth quarter," said Netflix Co-CEO Greg Peters, adding, "We doubled our ads revenue year over year last year. We expect to double it again this year."
The company said the ad-supported version of its service accounts for 55% of its new sign-ups in countries where it is available.
Macquarie Equity Research analyst Tim Nollen predicted that ad revenue will increase to $2 billion this year, as more people sign up for the company's advertising-supported tier and Netflix's advertising technology matures. Live events will continue to drive sign-ups, he wrote in an investor note published prior to Netflix's earnings report.
This quarter will also mark the last time Netflix reports subscriber additions, as the company emphasizes other performance metrics including revenue and profit - a change analysts attribute to slowing subscriber growth.
The company reported per-share earnings of $4.27, beating Wall Street's forecast of $4.20 per share, according to an average of projections from 34 analysts. Annual operating income exceeded $10 billion for the first time in the company's history.
Revenue rose 16% over the same time a year ago, to $10.2 billion, compared with Wall Street's estimates of $10.1 billion for the quarter, according to LSEG. The jump in subscribers in the quarter did not create a similar spike in revenue because sign-ups occurred throughout the quarter, said one person familiar with the matter.
The company revised its guidance, projecting revenue of $43.5 billion to $44.5 billion in 2025, an increase of a half-billion dollars over the prior forecast. The updated guidance reflects improved business fundamentals, the company said.
Netflix's board also approved an incremental $15 billion to repurchase shares, which brings the total buyback authorization to $17.1 billion.



‘Conclave’ Wins Best Picture at BAFTAs as ‘The Brutalist’ Takes Directing and Acting Prizes 

British actor Ralph Fiennes poses on the red carpet at the 2025 EE BAFTA Film Awards at the Royal Festival Hall in London, Britain, 16 February 2025. (EPA)
British actor Ralph Fiennes poses on the red carpet at the 2025 EE BAFTA Film Awards at the Royal Festival Hall in London, Britain, 16 February 2025. (EPA)
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‘Conclave’ Wins Best Picture at BAFTAs as ‘The Brutalist’ Takes Directing and Acting Prizes 

British actor Ralph Fiennes poses on the red carpet at the 2025 EE BAFTA Film Awards at the Royal Festival Hall in London, Britain, 16 February 2025. (EPA)
British actor Ralph Fiennes poses on the red carpet at the 2025 EE BAFTA Film Awards at the Royal Festival Hall in London, Britain, 16 February 2025. (EPA)

Papal thriller “Conclave” won four prizes including best picture on Sunday at the 78th British Academy Film Awards, where genre-bending musical “Emilia Pérez” proved that it’s still an awards contender despite a multipronged backlash that looked to have dented its chances.

At a ceremony where no film dominated, “The Brutalist” equaled the awards tally of “Conclave," scooping four trophies, including best director for Brady Corbet and best actor for Adrien Brody. Mikey Madison won the best actress prize for Brooklyn tragicomedy “Anora.”

“Conclave,” which stars Ralph Fiennes as a cardinal corralling conniving clergy as they elect a new pope, beat “Anora,” “The Brutalist,” “Emilia Pérez” and Bob Dylan biopic “A Complete Unknown” to the top prize. “Conclave” was also named outstanding British film and took trophies for editing and adapted screenplay.

Supporting performer prizes went to Kieran Culkin for “A Real Pain” and Zoe Saldaña for “Emilia Pérez,” which also won the award for best film not in the English language.

From the BAFTAs to the Oscars

Stars including Cynthia Erivo, Hugh Grant, Ariana Grande, Lupita Nyong’o, Timothée Chalamet and Saoirse Ronan walked the red carpet at London’s Royal Festival Hall for the awards, known as BAFTAs. The British prizes often provide clues about who will triumph at Hollywood’s Academy Awards on March 2, in an unusually hard-to-call awards season.

They also have a distinctly British accent. The ceremony kicked off with its kilt-wearing host, Scottish actor David Tennant, leading the audience in a rousing singalong of The Proclaimers’ anthem “I’m Gonna Be (500 Miles).”

Madison won the female acting trophy for her powerhouse performance as an exotic dancer entangled with a Russian oligarch's son in “Anora.” She beat Karla Sofía Gascón, Demi Moore for body-horror film “The Substance,” Ronan for “The Outrun,” Erivo for “Wicked” and Marianne Jean-Baptiste for “Hard Truths.”

Brody beat competition from Fiennes, Chalamet, who plays the young Dylan in “A Complete Unknown,” Grant for the horror film “Heretic,” Colman Domingo for prison drama “Sing Sing” and Sebastian Stan for his portrayal of a young Donald Trump in “The Apprentice.”

Brody, who plays a Hungarian-Jewish architect in the postwar United States, said “The Brutalist” carried a powerful message for our divided times.

“It speaks to the need for all of us to share in the responsibility of how we want others to be treated and how we want to be treated by others,” he said. “There's no place any more for antisemitism. There's no place for racism.”

“The Brutalist” also won prizes for its cinematography and musical score.

“A Real Pain,” about mismatched cousins on a trip to explore their roots, won the BAFTA for best original screenplay, as well as Culkin's acting award.

“I’d like to share this with my wife, who didn’t come because she didn’t think I’d win,” quipped writer-director Jesse Eisenberg, who also co-starred in the film.

Claymation caper “Wallace and Gromit: Vengeance Most Fowl” won awards for best animated feature and best family and children’s film.

Sci-fi epic “Dune: Part Two” won prizes for sound and visual effects, while blockbuster musical “Wicked” took the costume and production design trophies.

Rising stars and lifetime honors

Most BAFTA winners are chosen by 8,000 members of the UK academy of industry professionals, with one — the Rising Star Award — selected by public vote from a shortlist of nominees. This year's winner was David Jonsson, star of high finance TV drama series “Industry” and London rom-com “Rye Lane.”

“Star, I don’t know,” he said. “But rising, I guess.”

The prize for best British debut went to Rich Peppiatt, writer-director of Irish-language hip-hop drama “Kneecap.”

“Willow” and “Return of the Jedi” actor Warwick Davis received the academy’s top honor, the BAFTA Fellowship, for his screen career and work to create a more inclusive film industry.

The 3-foot, 6-inch (1.1-meter) actor founded a talent agency for actors under 5 feet tall, because, he said, “short actors weren’t known for their talent, just their height.”

“This is the best thing that’s ever happened to me — and I’ve been in ‘Star Wars,’” Davis said as he accepted his award.

This awards season has been clouded by last month’s devastating Los Angeles wildfires, and BAFTA chairwoman Sara Putt sent a message of strength to everyone affected,

The event was without a dash of royal glamour this year. Neither Prince William, who is honorary president of the British film academy, nor his wife Kate attended the ceremony, which coincided with school holidays for their three children.

William, 42, sent a video message, recorded during a visit to meet students at the London Screen Academy on Wednesday.

During the visit, the heir to the throne discussed his own viewing habits, saying he’d watched World War II drama “Darkest Hour” and had begun postapocalyptic TV drama “The Last of Us.” He said he found it “quite full on” and didn’t make it to the end.