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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
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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.

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Movie Review: The Villains Steal the Show in ‘The Fantastic Four: First Steps’

From left, Pedro Pascal, Ebon Moss-Bachrach and Joseph Quinn arrive at the premiere of "The Fantastic Four: First Steps" on Monday, July 21, 2025, at Dorothy Chandler Pavilion in Los Angeles. (Photo by Jordan Strauss/Invision/AP)
From left, Pedro Pascal, Ebon Moss-Bachrach and Joseph Quinn arrive at the premiere of "The Fantastic Four: First Steps" on Monday, July 21, 2025, at Dorothy Chandler Pavilion in Los Angeles. (Photo by Jordan Strauss/Invision/AP)
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Movie Review: The Villains Steal the Show in ‘The Fantastic Four: First Steps’

From left, Pedro Pascal, Ebon Moss-Bachrach and Joseph Quinn arrive at the premiere of "The Fantastic Four: First Steps" on Monday, July 21, 2025, at Dorothy Chandler Pavilion in Los Angeles. (Photo by Jordan Strauss/Invision/AP)
From left, Pedro Pascal, Ebon Moss-Bachrach and Joseph Quinn arrive at the premiere of "The Fantastic Four: First Steps" on Monday, July 21, 2025, at Dorothy Chandler Pavilion in Los Angeles. (Photo by Jordan Strauss/Invision/AP)

More than six decades after Jack Kirby and Stan Lee created a superhero team to rival the Justice League, the Fantastic Four finally get a worthy big-screen adaption in a spiffy ’60s-era romp, bathed in retrofuturism and bygone American optimism.

Though the Fantastic Four go to the very origins of Marvel Comics, their movie forays have been marked by missteps and disappointments. The first try was a Roger Corman-produced, low-budget 1994 film that was never even released.

But, after some failed reboots and a little rights maneuvering, Matt Shakman’s “The Fantastic Four: First Steps” is the first Fantastic Four movie released by Marvel Studios. And a sense of returning to Marvel roots permeates this one, an endearingly earnest superhero drama about family and heroism, filled with modernist “Jetsons” designs that hark back to a time when the future held only promise.

“First Steps,” with a title that nods to Neil Armstrong, quickly reminds that before the Fantastic Four were superheroes, they were astronauts. Reed Richards (Pedro Pascal), Sue Storm (Vanessa Kirby), Johnny Storm (Joseph Quinn) and Ben Grimm (a soulful Ebon Moss-Bachrach) flew into space but return altered by cosmic rays. “We came back with anomalies,” explains Reed, sounding like me after a family road trip.

They are now, respectively, the bendy Mister Fantastic, the fast-disappearing Invisible Woman, the fiery Human Torch and the Thing, a craggy CGI boulder of a man. In the glimpses of them as astronauts, the images are styled after NASA footage of Apollo 11, like those seen in the great documentaries “For All Mankind” and “Apollo 11.”

But part of the fun of the Fantastic Four has always been that while the foursome might have the right stuff, they also bicker and joke and argue like any other family. The chemistry here never feels intimate enough in “First Steps” to quite capture that interplay, but the cast is good, particularly Kirby.

In the first moments of “First Steps,” Sue sets down a positive pregnancy test before a surprised Reed. That night at dinner — Moss-Bachrach, now an uncle rather than a cousin, is again at work in the kitchen — Ben and Johnny immediately guess what’s up. The rest of the world is also eager to find out what, if any, powers the baby will have.

We aren’t quite in our world, but a very similar parallel one called Earth-828. New York looks about the same, and world leaders gather in a version of the United Nations named the Future Foundation. The Thing wears a Brooklyn Dodgers cap. Someone sounding a lot like Walter Cronkite reads the news.

And there’s a lot to read when the Silver Surfer (Julia Garner) suddenly hovers over the city, announcing: “I herald your end. I herald Galactus.” The TV blares, as it could on so many days: “Earth in Peril. Developing Story.”

Yes, the Earth (or some Earth) might be in danger, but did you get a look at that Silver Surfer? That’s Johnny Storm’s response, and perhaps ours, too. She's all chrome, like a smelted Chrysler Building, with slicked-back hair and melancholy eyes. He’s immediately taken by her, but she shoots off into space. In a rousing, NASA-like launch (the original Kirby and Lee comic came eight years before the moon landing), the Fantastic Four blast off into the unknown to meet this Galactus.

But if the Silver Surfer made an impression, Galactus (voiced by Ralph Ineson) does even more so. Fantastic Four movies have always before gone straight for Doctor Doom as a villain, but his entrance, this time, is being held up for “Avengers: Doomsday.” Still, Galactus, a planet-eating tyrant, is no slouch. A mechanical colossus and evident fan of Fritz Lang’s “Metropolis,” he sits on an enormous throne in space. Sensing enormous power in Sue’s unborn child, he offers to spare Earth for the baby.

What follows casts motherhood — its empowerments and sacrifices — onto a cosmic plane. There’s a nifty chase sequence in space that plays out during contractions. The two “Incredibles” movies covered some similar ground, in both retro design and stretchy parent and superhuman baby, with notably more zip and comic verve than “The Fantastic Four.” That's part of the trouble of not getting a proper movie for so long: Better films have already come along inspired by the '60s comic.

But as good as Vanessa Kirby is in “First Steps,” the movie is never better than when the Silver Surfer or Galactus are around. Shakman, a former child actor who’s directed mostly in television (most relevantly, “WandaVision”), proves especially adept at capturing the enormous scale of Galactus. “First Steps” may be, at heart, a kaiju movie.

What it certainly is, though, is a very solid comic book movie. It’s a little surface over substance, and the time capsule feeling is pervasive. This is an earnest-enough superhero movie where even the angry mob protesting the superheroes turns quiet and pensive. I was more likely to be moved by a really handsome chalkboard than I was by its vision of motherhood.

But, especially for a superhero team that’s never before quite taken flight on screen, “First Steps” is a sturdy beginning, with impeccable production design by Kasra Farahani and a rousing score by Michael Giacchino. Even if the unifying space-age spirit of Kirby and Lee's comic feels very long ago, indeed.