American streaming service Netflix has surpassed the 325 million paid subscriber mark worldwide, the company announced. This is the first update on subscriber numbers since 2023. The company ended 2024 with 301.6 million paid subscribers. In the fourth quarter, Netflix increased its revenue by 17.6% year-over-year to just over $12 billion, while net income reached $2.42 billion, an increase of nearly 29% compared to the previous year. Netflix is currently seeking to acquire the studio and streaming assets of Hollywood giant Warner Bros. Discovery. To finance the deal, estimated at around $83 billion, Netflix said it will suspend share buybacks, announcing this alongside its earnings report. U.S. companies often resort to share buybacks to support their stock market prices. Netflix shares fell by as much as 5% in after-hours trading. Since reports of plans to acquire Warner Bros. Discovery first surfaced, the stock has lost about 30% of its value. Later, Netflix abandoned plans to include shares in the deal and announced it would pay for the acquisition in cash. The streaming giant is in a competitive battle for the acquisition with Paramount, which is seeking to buy Warner Bros. Discovery outright in a deal valued at over $100 billion, and includes television networks such as CNN.
