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Variety reports:

Netflix extended its lead as the world’s biggest premium video-streaming platform — pulling in a better-than-expected 13.1 million subscribers for the fourth quarter of 2023, a Q4 record. The company’s Q4 revenue came in slightly above Wall Street forecasts, while net income fell short.

As of the end of 2023, Netflix counted 260.28 million total members globally. On average, analysts expected the company to report about 8.8 million net new subs for the year-end quarter.

The Q4 earnings report comes after Netflix announced a blockbuster 10-year deal for WWE’s “Monday Night Raw” earlier in the day — the streamer’s biggest bet to date in live sports. Under the deal, Netflix will pay about $500 million annually to TKO Group for media rights in multiple territories starting in 2025.

Read the full article.

Netflix Packs on More Than 13 Million Subscribers in Q4, Well Above Expectations https://t.co/u9cVM83Fil

— Variety (@Variety) January 23, 2024