Tag: Carry-On

  • Netflix boasts eye-watering viewing figures

    Netflix boasts eye-watering viewing figures

    MUMBAI:  Netflix, the streaming behemoth that enjoys reminding us all that it was first to the party, has revealed its subscribers collectively frittered away a staggering 94 billion hours watching content between July and December 2024. One can only imagine how many unwritten novels, unlearned languages, and unvisited gymnasiums those hours represent.most watched films

    The company, displaying its customary selective transparency, proudly announced that the comedy caper Carry On topped its film charts with 137 million views. Curiously, Netflix neglected to convert this figure into actual viewing hours—perhaps calculating the true extent of global procrastination proved too depressing even for its data analysts.

    Union (131 million views) and Rebel Ridge (129 million) followed closely behind, with Beverly Hills Cop (97 million) and Our Little Secret (81 million) rounding out the top five films that kept humanity from more productive pursuits.

    On the series front, to absolutely nobody’s surprise, Squid Game continued its cultural stranglehold with its second season amassing 87 million views. The Perfect Couple (which, ironically, describes Netflix’s relationship with its audience’s leisure time) secured 75 million views, while Monsters: The Lyle and Erik Menendez Story drew in 70 million viewers with its cheery subject matter.

    most watched shows

    Meanwhile, Emily in Paris continues to defy both critics and cultural cringe in its fourth season, with 58 million views suggesting that viewers simply cannot get enough of watching an implausibly employed American navigate the treacherous waters of croissants and couture. Nobody Wants This completed the top five with 57 million views—a title that clearly doesn’t apply to the show itself.

    The streaming giant’s announcement serves as both a flex of its market dominance and a gentle reminder that we’re all spending far too much time staring at screens. Nonetheless, with numbers like these, Netflix executives are likely too busy counting their subscribers to worry about counting sheep at night.

    (While like millions of others globally, we too are fans of Netflix and probably contributed a few thousand hours to Netflix’s 94 billion hours, we decided to write this piece in a fun,  almost irreverent manner, just like the content Netflix offers. Cheers!)

  • Netflix soars higher and higher  in Q4 2024; FY 2024

    Netflix soars higher and higher in Q4 2024; FY 2024

    MUMBAI: It’s netted a financial performance like never before. Global streamer Netflix concluded 2024 on a high note, achieving significant financial milestones and operational growth. With a focus on re-accelerating revenue, expanding membership, and delivering record-breaking content, the company also outlined its strategic priorities for 2025.

    2024 Financial Performance
    1. Revenue Growth:
    o Total revenue for 2024 reached $39 billion, a 16 per cent increase year-over-year.
    o Growth was supported by strong membership additions and successful content.

    2. Operating Metrics:
    o Operating income surged to $10.4 billion, marking the first time the company surpassed this threshold.
    o Operating margins improved by six points, closing at 27 per cent.

    3. Membership Expansion:
    o Global paid memberships rose to 302 million, with a record annual net addition of 41 million subscribers.

    4. Content Success:
    o Netflix dominated engagement metrics, achieving more viewing hours than its competitors combined.
    o Top content included Squid Game Season 2, Carry-On, and the Jake Paul vs. Mike Tyson fight—the most streamed sporting event ever.

    Q4 2024 Highlights
    1. Quarterly Revenue:
    o Revenue for Q4 increased 16 per cent year-over-year to $10.2 billion, or 19 per cent on a currency-neutral basis.
    2. Net Membership Additions:
    o Added 19 million net paid subscribers, marking the highest quarterly growth in Netflix’s history.
    3. Profitability:
    o Operating income rose by 52 per cent year-over-year to $2.3 billion.
    o Earnings per share (EPS) doubled, reaching $4.27 compared to $2.11 in Q4 2023.
    4. Content Performance:
    o Blockbusters like Squid Game Season 2 and holiday NFL games drove record viewership.

    2025 Strategic Outlook
    Netflix is poised for continued growth, focusing on content innovation, monetization, and global expansion.
    1. Revenue and Profitability:
    o Projected revenue: $43.5-$44.5 billion, reflecting 12 per cent-14 per cent growth.
    o Operating margin forecast: 29 per cent, up from 27 per cent in 2024.
    2. Content Plans:
    o Return of fan-favorites like Stranger Things, Wednesday, and Ginny & Georgia.
    o New live programming, including FIFA Women’s World Cup rights and NFL Christmas Day games.
    o Expansion of gaming, with the successful Squid Game: Unleashed and cloud gaming trials.
    3. Advertising Strategy:
    o The ad-supported tier accounted for 55 per cent of sign-ups in ad-available countries in Q4.
    o Planned rollout of first-party ad-tech in the U.S. by Q2 2025 to enhance targeting and engagement for advertisers.
    4. Free Cash Flow and Debt Management:
    o Expected free cash flow: ~$8 billion.
    o Reduction of $1.8 billion in bonds due in 2025 using proceeds from 2024 debt offerings.

    Netflix Co-CEO Ted Sarandos revealed that the company is eyeing streaming of sports in the near future. (Do we expect some amount of cricket rights competition heating up going forward?  Sarandos said; “Right now, we believe that the live events business is where we really want to be, and sports is a very important part of that, but it is a part of that expansion.”

    The company also unearthed new price points with the standard monthly subscription without advertisements will costing  $17.99, up from $15.49; the Standard monthly package with ads will rising from $6.99 to $7.99; 4K video quality subscriptions will be priced at $24.99 as compared to $22.99 now. This new price will first roll out in north America and will be followed by Europe and Apac later.

    The hope is that the price increase will push customers towards the ad supported tier which will mean higher ARPUs for Netflix.