Netflix to hike prices as live sport aids surge in subscriber numbers
Netflix boasted 19m extra subscribers in their fourth quarter results for 2024, partly due to their rise in live sports offering, as the streaming giant passed 300m paid subscribers.
The platform added live sport to its slate in 2024, showing boxing, NFL and WWE. It also won the media rights to the next two Fifa Women’s World Cups with Netflix projecting 2025 revenues of £35.3bn to £36bn.
“Our Q4 slate outperformed even our high expectations,” the firm said. “The Jake Paul vs. Mike Tyson fight became the most-streamed sporting event ever and on Christmas Day we delivered the two most-streamed NFL games in history.”
Group director of Fuse, James Venn, commented: “Advances in streaming technology have allowed Netflix to carefully enter live sports, prioritising key events with massive viewership potential. These moments, or ‘not-to-be-missed’ cultural phenomena, attract audiences at scale.”
Netflix goes live
He adds: “Netflix’s live events create major revenue opportunities through its 2022 advertising model and its ability to drive subscription growth. Advertisers follow audiences and benefit from Netflix’s data-driven personalisation, audience segmentation, and real-time measurement—positioning live sports as a powerful tool to engage viewers and drive growth for the platform.”
The streaming giant will now stop issuing quarterly subscriber updates but is expected to jump further into the live event space as it also confirms increases to subscription costs.
Added SVP Sparks International’s Jason Megson: “By continuing to invest in enhanced viewer experiences, Netflix is well-positioned to outpace competitors which will sustain subscription growth.
“And, perhaps more importantly, showcasing live sporting events opens up lucrative new revenue streams by creating brand partnerships across each touch-point – from the on-screen to the in-person experience and everything in between.”
Away from the sporting scene Netflix subscribers can look forward to the returns of The Night Agent, Stranger Things and Wednesday, as well as releases of Happy Gilmore 2 and Guillermo del Toro’s Frankenstein.
In the United States a standard advert month will rise to £6.49, a standard without ads will increase to £14.60 and a premium plan jumps to £18.66.
The UK price for an ad account is £4.99, rising to £10.99 for standard without ads, and £17.99 for a premium.