What are the key factors behind Netflix's revenue growth in 2024?

Netflix's revenue growth in 2024 can be attributed to several key factors:

1. **Strong Subscription Growth**: Netflix added 19 million paid subscribers in Q4, marking the largest quarterly increase in its history. This growth was driven by successful content releases, including the return of popular shows like Squid Game and the addition of new lower-priced tiers.
2. **Diversified Revenue Streams**: Netflix's introduction of an ad-supported tier has contributed to its revenue growth. The ad-supported tier saw a significant increase in subscriptions, highlighting its success in generating revenue beyond traditional subscription fees.
3. **International Market Expansion**: Netflix has seen notable revenue growth from its international markets, particularly in regions like the United States and Canada, and Europe, the Middle East, and Africa. The company's international performance was bolstered by the introduction of new content that resonated with local audiences.
4. **Live Sports Events**: Netflix's partnership with the NFL for live game broadcasts has been a major driver of revenue and subscriber growth. The company set a record for NFL viewership on Christmas Day, with 24.3 million viewers tuning in to watch the Baltimore Ravens take on the Houston Texans.
5. **Strategic Pricing Adjustments**: Netflix has been successful in preserving average revenue per member (ARM) expansion despite introducing lower-priced tiers. This implies that the addition of lower-priced revenue mix components has been offset by continued progress in ramping up ad sales.

In summary, Netflix's revenue growth in 2024 can be attributed to strong subscriber growth, diversified revenue streams, international market expansion, live sports events, and strategic pricing adjustments. These factors have collectively contributed to a 16% year-over-year increase in total revenue, reaching $10.25 billion.

|code|Ticker|Name|Date|Total Revenue YoY|Total Revenue|market_code|
|---|---|---|---|---|---|---|
|NFLX|NFLX.O|Netflix|2024 Q1|14.812676047536833|9.37044E9|185|
|NFLX|NFLX.O|Netflix|2024 Q2|16.75776913539639|9.55931E9|185|
|NFLX|NFLX.O|Netflix|2024 Q3|15.020895216250501|9.824703E9|185|
|NFLX|NFLX.O|Netflix|2024 Q4|16.004936133117095|1.0246513E10|185|