Streaming giant Netflix has credited live sports programming and exclusive shows, such as the boxing match between Jake Paul and Mike Tyson and Squid Game 2 [pictured], for driving record registrations.
The US-based tech company added 19 million new subscribers during the final quarter of 2024, bringing its global users to 302 million. This nearly doubled estimates, and was helped by the streaming service cracking down on password sharing.
It also announced price increases in the US, Canada, Argentina and Portugal. There are currently no plans for UK subscription hikes.
A company profile in the SubscriptionX report looks at how the DVD rental service has transformed into one of the world’s leading streaming platforms. Over the years the company has continuously tweaked its subscription offers to meet changing needs and viewing habits.
Initially, Netflix introduced a DVD rental-by-mail subscription service, where customers could choose from a selection of DVDs online, receive them via mail and return them at their convenience with no late fees. This subscription model upturned the traditional instore video rental offer, providing convenience and huge choice.
Recognising the shift towards digital, Netflix launched its streaming service in 2007, allowing subscribers to instantly watch films and TV shows online. This was initially offered as a complementary feature to the DVD rental subscription, however, as streaming gained popularity, the company started investing in the expansion of its digital content library.
Netflix also began producing original content to differentiate itself from competitors and attract more subscribers.
As the company expanded its global presence to more than 190 countries, it introduced different pricing tiers. The basic plan offers standard definition streaming on one device, while the standard plan allows HD streaming on two devices simultaneously. The premium plan offers ultra HD streaming on up to four devices.
The company now invests heavily in original content creation and constantly experiments with new features, such as offline downloads and interactive storytelling, to enhance the user experience and retain subscribers.
This is one of five company profiles in the Subscription 2024 report. In-depth case studies on Hotel Chocolat, Graze, Cocoon and Gousto are also included.
The wider report explores consumer behaviour and offers retailers invaluable insight into how they can add value with subscription offerings.
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