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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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Entertainment

‘Sinners,’ ‘Wicked: For Good,’ ‘KPop Demon Hunters’ Advance in Oscars Shortlists 

US film director Ryan Coogler poses on the red carpet upon arrival for the European Premiere of "Sinners" at Cineworld Leicester Square, central London, on April 14, 2025. (AFP)
US film director Ryan Coogler poses on the red carpet upon arrival for the European Premiere of "Sinners" at Cineworld Leicester Square, central London, on April 14, 2025. (AFP)
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‘Sinners,’ ‘Wicked: For Good,’ ‘KPop Demon Hunters’ Advance in Oscars Shortlists 

US film director Ryan Coogler poses on the red carpet upon arrival for the European Premiere of "Sinners" at Cineworld Leicester Square, central London, on April 14, 2025. (AFP)
US film director Ryan Coogler poses on the red carpet upon arrival for the European Premiere of "Sinners" at Cineworld Leicester Square, central London, on April 14, 2025. (AFP)

Ryan Coogler’s bluesy vampire thriller “Sinners,” the big screen musical “Wicked: For Good” and the Netflix phenomenon “KPop Demon Hunters” are all a step closer to an Oscar nomination.

The Academy of Motion Picture Arts and Sciences released shortlists for 12 categories Tuesday, including for best song, score, international and documentary film, cinematography and this year’s new prize, casting.

“Sinners” and “Wicked: For Good” received the most shortlist mentions with eight each, including makeup and hair, sound, visual effects, score, casting and cinematography. Both have two original songs advancing as well. For “Wicked” it’s Stephen Schwartz’s “The Girl in the Bubble” and “No Place Like Home.” For “Sinners,” it’s Ludwig Göransson, Miles Caton and Alice Smith’s “Last Time (I Seen the Sun),” and Göransson and Raphael Saadiq’s “I Lied to You.”

The “KPop Demon Hunters” hit “Golden,” by EJAE and Mark Sonnenblick, was another shortlisted song alongside other notable artists like: Nick Cave and Bryce Dessner for “Train Dreams”; John Mayer, Ed Sheeran and Blake Slatkin for the “F1” song “Drive”; Sara Bareilles, Brandi Carlile and Andrea Gibson for “Salt Then Sour Then Sweet” from “Come See Me In the Good Light"; and Miley Cyrus, Simon Franglen, Mark Ronson and Andrew Wyatt for “Dream as One” from “Avatar: Fire and Ash.” Diane Warren also might be on her way to a 17th nomination with “Dear Me” from “Diane Warren: Relentless.”

One of the highest profile shortlist categories is the best international feature, where 15 films were named including “Sentimental Value” (Norway), “Sirât” (Spain), “No Other Choice” (South Korea), “The Secret Agent” (Brazil), “It Was Just an Accident” (France), “The Voice of Hind Rajab” (Tunisia), “Sound of Falling” (Germany) and “The President's Cake” (Iraq).

Notable documentaries among the 15 include “My Undesirable Friends: Part I — Last Air in Moscow,” “The Perfect Neighbor,” “The Alabama Solution,” “Come See Me in the Good Light,” “Cover-Up” and Mstyslav Chernov’s “2000 Meters to Andriivka,” a co-production between The Associated Press and PBS Frontline.

The Oscars' new award for casting shortlisted 10 films that will vie for the five nomination slots: “Frankenstein,” “Hamnet,” “Marty Supreme,” “One Battle After Another,” “The Secret Agent,” “Sentimental Value,” “Sinners,” “Sirāt,” “Weapons,” and “Wicked: For Good.” Notably “Jay Kelly and “Wake Up Dead Man: A Knives Out Mystery” did not make the list.

Composers who made the shortlist for best score include Göransson (“Sinners”), Jonny Greenwood (“One Battle After Another”), Max Richter (“Hamnet”), Alexandre Desplat (“Frankenstein”) and Kangding Ray (“Sirāt”).

For the most part, shortlists are determined by members in their respective categories, though the specifics vary from branch to branch: Some have committees, some have minimum viewing requirements.

As most of the shortlists are in below-the-line categories celebrating crafts like sound and visual effects, there are also films that aren’t necessarily the most obvious of Oscar contenders like “The Alto Knights,” shortlisted in hair and makeup, as well as the widely panned “Tron: Ares” and “The Electric State,” both shortlisted for visual effects. “Tron: Ares” also made the lists for score and song with Nine Inch Nails' “As Alive As You Need Me To Be”

The lists will narrow to five when final nominations are announced on Jan. 22. The 98th Oscars, hosted by Conan O’Brien, will air live on ABC on March 15.

Entertainment

Netflix Boss Promises Warner Bros Films Would Still be Seen in Cinemas

Netflix CEO Ted Sarandos poses during the avant-premiere of TV serie "Emily in Paris" season 5, at the Grand Rex, in Paris on December 15, 2025. (Photo by Blanca CRUZ / AFP)
Netflix CEO Ted Sarandos poses during the avant-premiere of TV serie "Emily in Paris" season 5, at the Grand Rex, in Paris on December 15, 2025. (Photo by Blanca CRUZ / AFP)
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Netflix Boss Promises Warner Bros Films Would Still be Seen in Cinemas

Netflix CEO Ted Sarandos poses during the avant-premiere of TV serie "Emily in Paris" season 5, at the Grand Rex, in Paris on December 15, 2025. (Photo by Blanca CRUZ / AFP)
Netflix CEO Ted Sarandos poses during the avant-premiere of TV serie "Emily in Paris" season 5, at the Grand Rex, in Paris on December 15, 2025. (Photo by Blanca CRUZ / AFP)

Netflix will continue to distribute Warner Bros. films in cinemas if its takeover bid for the storied studio is successful, the streaming service's chief executive Ted Sarandos said in an interview Tuesday in Paris.

"We're going to continue to operate Warner Bros. studios independently and release the movies traditionally in cinema," he said during an event in the French capital, while admitting his past comments on theatrical distribution "now confuse people".

Previously, Sarandos had suggested that the cinema experience was outdated, surpassed by the convenience of streaming.

The Netflix boss was being interviewed by Maxime Saada, head of France's Canal+ media group, in a Paris theater that was presenting Canal+'s projects for 2026, Agence France Presse reported.

Netflix only began to produce its own programs a dozen years ago, Sarandos explained, so "our library only extends back a decade, where Warner Bros. extends back 100 years. So they know a lot about things that we haven't ever done, like theatrical distribution."

In early December, Netflix announced that it had reached an agreement with Warner Bros. Discovery (WBD) to acquire most of the group for $83 billion.

However, doubts remain about whether the deal will be approved by regulators, and in the meantime television and film group Paramount Skydance has made a counter-offer valued at $108.4 billion.

If Netflix's bid is successful, it would acquire HBO Max, one of the world's largest media platforms, and it would find itself at the head of a movie catalogue including the Harry Potter and Lord of the Rings sagas, as well as the superheroes of DC Studios.

Entertainment

Donna Summer Is Posthumously Inducted into the Songwriters Hall of Fame

Donna Summer. (Reuters)
Donna Summer. (Reuters)
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Donna Summer Is Posthumously Inducted into the Songwriters Hall of Fame

Donna Summer. (Reuters)
Donna Summer. (Reuters)

There are giants, and then there is Donna Summer. The Queen of Disco and then some, known for such timeless tunes as “Love to Love You Baby,” “I Feel Love,” “Bad Girls,” “Dim All the Lights,” “On the Radio” and “She Works Hard for the Money,” has been posthumously inducted into the Songwriters Hall of Fame, the hall said.

Summer, who died in 2012 at age 63, was welcomed into the Songwriters Hall on Monday at a ceremony at The Butterfly Room at Cecconi’s in Los Angeles. It was led by Academy Award-winning songwriter Paul Williams. Summer's husband, Bruce Sudano and their daughters Brooklyn Sudano and Amanda Sudano Ramirez were in attendance.

“Donna Summer is not only one of the defining voices and performers of the 20th century; she is one of the great songwriters of all time who changed the course of music,” said Williams in a statement. “She wrote timeless and transcendent songs that continue to captivate our souls and imaginations, inspiring the world to dance and, above all, feel love.”

Summer's smooth blend of R&B, soul, pop, funk, rock, disco and electronica launched numerous chart-topping hits in the ‘70s and ’80s as well as three multiplatinum albums. She won five Grammys. She was unstoppable — both as a performer and a writer.

“It’s important to me because I know how important it was for Donna,” said Sudano in a press release. “The backstory is, with all the accolades that she received over her career, being respected as a songwriter was always the thing that she felt was overlooked. So, for her to be accepted into the Songwriters Hall of Fame I know that she’s very happy ... somewhere.”

The Songwriters Hall of Fame was established in 1969. A songwriter with a notable catalog of songs qualifies for induction 20 years after the first commercial release of a song.

The annual Songwriters Hall of Fame gala does not usually include posthumous inductions; those are reserved for separate events.

Songwriter Pete Bellotte — known for his work with Summer on “Hot Stuff,” “I Feel Love” and “Love To Love You Baby” — is a current nominee for the 2026 Songwriters Hall of Fame class. “Love To Love You Baby” was co-written with Summer and producer Giorgio Moroder. One of Summer's best-known hits, the song has been sampled many times, including in tracks by Beyoncé, LL Cool J and Timbaland.

The 2026 inductees will be announced in early 2026.