Netflix shares soared as it cemented its status as the world’s largest streaming service.
In a bullish update yesterday, the US giant revealed another 13.1m subscribers signed up in the final three months of last year – the biggest rise in customers since the start of lockdowns in early 2020.
It took total customers to 260m, well ahead of rivals Amazon Prime Video and Disney Plus.
The update sent shares soaring when Wall Street resumed trading with the stock up 10.7 per cent last night.
‘Netflix has already won the streaming wars and this type of strong result, especially relative to its peers, is what winning looks like,’ said Pivotal Research Group analyst Jeffrey Wlodarczak.
Tuning in: Subscribers have signed up to Netflix to watch hits such as The Crown (pictured), Fool Me Once and The Killer
Attracted by hits such as The Crown, Fool Me Once and The Killer, subscribers have signed up to Netflix amid a clampdown on password sharing.
It plans to spend £13billion on content in 2024, after last year’s Hollywood strikes hit productions.
Netflix is also ramping up its live programming, with a £4billion deal to stream the World Wrestling Entertainment show Raw from January 2025.
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