Connect with us

Latest News

Netflix Surpasses Earnings Expectations with 5.1 Million New Subscribers!

Published

on

Netflix Surpasses Earnings Expectations with 5.1 Million New Subscribers!,Startup Stories,Startup Stories India,Latest Technology News and Updates,2024 Technology News,Tech News,Netflix earnings report,Netflix subscriber growth,Netflix 5.1 million new subscribers,Netflix financial results,Netflix Q3 earnings,streaming service growth,Netflix market performance,Netflix user acquisition,Netflix revenue increase,Netflix stock price reaction,Netflix content strategy,global streaming trends,Netflix competition analysis,subscriber retention strategies,Netflix user demographics,Netflix Q3 Surges,Netflix Surpasses Subscriber Expectations,Netflix Subscriber Growth and Programming Success,Netflix Financial Performance,Netflix Advertising Venture and Future Plans,Netflix Live Events Strategy,Netflix,Netflix Latest News,Netflix New Subcsribers

Netflix added 5.1 million streaming subscribers in the third quarter of 2024, exceeding Wall Street’s expectations by over 1 million. The company anticipates further growth during the holiday season, particularly with the return of the popular Korean drama “Squid Game.”

Following the earnings report on Thursday, Netflix shares rose 3.5% to $711.98 in after-hours trading.

Subscriber Growth and Programming Success

Analysts had predicted that Netflix would gain around 4 million subscribers from July to September. The quarter saw the release of new programming, including the murder mystery “The Perfect Couple” and the romantic comedy “Nobody Wants This.”

Financial Performance

Diluted earnings per share reached $5.40, surpassing the consensus forecast of $5.12, while revenue came in at $9.825 billion, slightly ahead of the expected $9.769 billion.

Looking ahead, Netflix projected that customer additions for the final three months of the year—typically a strong period due to the Christmas holiday—would exceed those of the September quarter, although specific numbers were not disclosed.

Shift in Focus for Investors

The company has been shifting investor focus away from subscriber growth to other key metrics, such as revenue growth and profit margins. Notably, its operating margin improved to 30% in the latest quarter, up from 22% a year ago.

In a letter to shareholders, Netflix stated:

“We’ve delivered on our plan to reaccelerate our business, and we’re excited to finish the year strong with a great Q4 slate,” highlighting upcoming programming, including the second season of “Squid Game.”

Recovery from Previous Disruptions

After facing disruptions from last year’s Hollywood strikes, Netflix’s programming volume has increased significantly. The average time spent watching Netflix was reported at two hours per day per member, indicating strong viewer engagement.

Advertising Venture and Future Plans

Almost two years into its advertising venture, Netflix is focused on increasing revenue from its ad-supported plans but does not anticipate advertising to become a primary growth driver until 2026. During the September quarter, more than 50% of new signups in regions where the ad-supported service was available came from this offering.

Live Events Strategy

Part of Netflix’s strategy includes live events, such as streaming a boxing match between YouTube star Jake Paul and Mike Tyson in November, followed by its first NFL games in December. Mike Proulx, a research director at Forrester, noted:

“Advertisers want to be part of big cultural moments. Compelling live programming will always amass and unite people for a snapshot in time. For brands, that’s a captive audience who’s ripe for advertising messages.”

Conclusion

Netflix’s ability to surpass subscriber growth expectations and improve financial metrics reflects its strategic adaptations in an evolving streaming landscape. As it prepares for a busy holiday season with exciting new content and innovative features like ad-supported plans and live events, Netflix aims to solidify its position as a leader in the competitive streaming market.

With ongoing investments in original programming and an eye toward future growth avenues, including advertising, Netflix is poised for continued success as it navigates challenges and opportunities within the entertainment industry.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

Blissclub Raises INR 33 Crore in Fresh Funding Months After Layoffs

Published

on

Bliss_StartupStories

Blissclub, the women-centric D2C apparel brand, has raised INR 33 crore in a Pre-Series B funding round led by Elevation Capital, with Eight Roads Ventures also participating. This funding comes just three months after the company laid off 18% of its workforce-about 21 employees from creative, sales, marketing, growth, and product teams-due to high cash burn and challenges in securing new capital.

The latest investment was made through the allotment of 16,076 compulsory convertible preference shares (CCPS) at a premium of INR 20,428 each. Elevation Capital invested INR 19 crore, securing a 24.5% stake, while Eight Roads Ventures contributed INR 14 crore, raising its stake to 15.79%. The capital will be used for working capital, capital expenditure, and general corporate purposes.

Founded in 2020 by Minu Margeret, Blissclub started as an online activewear brand for women and has since diversified its product range and established offline stores. Despite recent restructuring, the company’s revenue grew 27% to INR 86.9 crore in FY24 from INR 68.3 crore in FY23, though net losses also increased to INR 43.9 crore.

Blissclub’s successful fundraising, despite recent layoffs, underscores both the ongoing challenges and the resilience of India’s D2C startup sector in a difficult funding environment.

 

Continue Reading

Latest News

Apple to Shift Entire US iPhone Assembly to India by 2026

Published

on

Apple - StartupStories

Apple is set to relocate all assembly of iPhones destined for the US market from China to India by the end of 2026, marking its biggest manufacturing shift in decades. The move is driven by escalating US-China trade tensions and steep tariffs—up to 145% on Chinese imports—making Chinese assembly increasingly costly for Apple. Although some smartphone imports are temporarily exempt, a 20% duty still applies to Chinese-made iPhones entering the US.

 

India, in contrast, offers a more favorable trade environment, with a paused 26% reciprocal tariff and ongoing negotiations for a bilateral trade deal with the US that could shield Indian exports from future levies. Apple plans to more than double its current iPhone output in India, aiming to assemble over 60 million units annually for the US market. The company already produces about 25% of its global iPhones in India, working with partners like Foxconn, Tata Electronics, and Pegatron.

 

This shift is part of Apple’s broader strategy to diversify its supply chain and reduce reliance on China amid geopolitical risks. However, the transition’s success will depend on how quickly India can scale up its manufacturing capabilities and the outcome of ongoing trade negotiations.


Continue Reading

Latest News

PhonePe’s PINCODE Launches 10-Minute Medicine Delivery in Cities

Published

on

PhonePe

PhonePe’s PINCODE app has launched a 24×7 online medicine delivery service in Bangalore, Mumbai, and Pune, promising delivery of both prescription and over-the-counter medicines within 10 minutes from nearby local medical shops. Unlike conventional e-pharmacies that use dark stores, PINCODE partners exclusively with neighborhood pharmacies, enabling faster deliveries and supporting local businesses in the digital economy.

Customers without prescriptions can select a “no prescription” option when ordering; a qualified doctor then provides a free teleconsultation and issues a digital prescription compliant with telemedicine guidelines, ensuring seamless access to medicines. The app offers competitive pricing by passing discounts from local pharmacies directly to customers and charges no delivery fees.

PINCODE’s hyperlocal model enhances healthcare accessibility and convenience while empowering local pharmacies, helping them remain integral to their communities and stimulating local economic growth. Launched in 2023, the app focuses on quick commerce with an emphasis on speed, reliability, and supporting local sellers.

In summary, PhonePe’s PINCODE app is transforming medicine delivery in major Indian cities by combining ultra-fast 10-minute delivery, free doctor consultations, and a hyperlocal sourcing model that benefits both consumers and neighborhood pharmacies.

Continue Reading
Advertisement

Recent Posts

Advertisement