Those of the streaming giant Netflix are mind-boggling numbers. GThe platform's subscribers grew by 9.33 million compared to the last quarter of 2023, reaching 269.6 million. The total audience, if we consider an average of two people per subscription, reaches around half a billion viewers.
Also during the first quarter, the company recorded a 15% increase in its revenues, reaching $9.37 billion, and a more than remarkable 54% increase in operating income. These results considered more than positive by management are accompanied by equally promising forecasts for the rest of the year, with growth estimated between 13% and 15% for 2024.
Despite the aforementioned results, Netflix's overall market share (share) remains below 10%. The strategy of the company founded by Reed Hastings and Marc Randolph involvesinclusion of live sporting events (following the example of Amazon Prime's success with Champion League matches), especially WWE wrestling events, which promise to attract an even larger and more diverse audience. Furthermore, Netflix is expanding its content offering to include more films, TV series, gaming and live entertainment programs.
The introduction of plans with advertising, launched in Italy at the end of 2022, although raising doubts among users, has allowed access to Netflix services at a lower price and is representing an increasingly significant part of the company's growth strategy American. Advertising revenue is in fact taking on an increasingly significant role in total revenue and will certainly see exponential growth when live events are introduced.
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