Entertainment giant Netflix has reported its best Q4 growth ever this week which cements its place as the most popular streaming service on the market.
In a letter to shareholders published on Netflix’s own Investors website, the company revealed that it added a staggering 13.12 million subscribers over the final three months of 2023. The earnings report brought some good news for audiences too, stating that one of the company’s biggest opportunities in 2024 will be improving its core offering of TV series and movies. As well as broadening its horizons into gaming and sports-adjacent programming.
So what is everyone going to be talking about this year? Netflix is refreshingly open with its growth strategies allowing fans to see where they will be making improvements and what they will be investing in next. Taking a look at their first ever bi-annual “What We Watched” engagement report, we understand that fans can expect to see further development around Netflix’s own franchises first and foremost. This would be creating new shows in the same vein as Squid Game: The Challenge, a clever way to keep audiences who were interested in the main series (all 34.5 Million of them) watching for longer.
In the same report, Netflix shared its plans for its original programming and updates to their popular TV series. We can expect new series from The Diplomat, Bridgerton, Squid Game and Drive to Survive in 2024. As well as brand new big hitters including 3 Body Problem, a best selling novel adapted by the show runners of Game of Thrones. We will also see The Gentlemen, a TV spin off of Guy Ritchie’s 2019 film of the same name and Eric starring Benedict Cumberbatch in the role of a monster under the bed! In terms of Netflix’s original films, we expect big things from Carry On made by Steven Spielberg’s Amblin Entertainment starring Jason Bateman and Taron Edgerton as well as Eddie Murphy reprising his role in Beverly Hills Cop: Axel Foley.
The streamer’s experiment with live programming is set to continue as they broadcast the 30th Screen Actors Guild Awards in February and Netflix Slam, an exhibition tennis match between Rafael Nadal and Carlos Alcaraz. Good news keeps coming for sports fans as Netflix will also begin a long-term partnership with WWE broadcasting live Wrestlemania, SummerSlam, Royal Rumble, and Raw in 2025.
Netflix also divulged to shareholders this month that the company wants to grow its connection with fans through innovative live experiences and consumer products. The opening of Stranger Things: The First Shadow stage play in London’s West End has allowed Netflix to engage with fans (and fans to engage with their favourite titles) in between seasons. Audiences have also been able to connect off screen with new consumer products including the first Bridgerton inspired wedding dress collection.
While Netflix’s games offering was mentioned in the January letter to shareholders, there have been no new developments announced yet but we’ll keep you posted.
These latest Q4 figures bring the total Netflix subscribers to over 260 Million households. It’s clear that the company is pushing the mantra of “press play and stay” in 2024 by doubling down on its core offering and investing in some truly unique experiences. It’s going to be an exciting year!
