iWorld
Netflix soars higher and higher in Q4 2024; FY 2024
MUMBAI: It’s netted a financial performance like never before. Global streamer Netflix concluded 2024 on a high note, achieving significant financial milestones and operational growth. With a focus on re-accelerating revenue, expanding membership, and delivering record-breaking content, the company also outlined its strategic priorities for 2025.
2024 Financial Performance
1. Revenue Growth:
o Total revenue for 2024 reached $39 billion, a 16 per cent increase year-over-year.
o Growth was supported by strong membership additions and successful content.
2. Operating Metrics:
o Operating income surged to $10.4 billion, marking the first time the company surpassed this threshold.
o Operating margins improved by six points, closing at 27 per cent.
3. Membership Expansion:
o Global paid memberships rose to 302 million, with a record annual net addition of 41 million subscribers.
4. Content Success:
o Netflix dominated engagement metrics, achieving more viewing hours than its competitors combined.
o Top content included Squid Game Season 2, Carry-On, and the Jake Paul vs. Mike Tyson fight—the most streamed sporting event ever.
Q4 2024 Highlights
1. Quarterly Revenue:
o Revenue for Q4 increased 16 per cent year-over-year to $10.2 billion, or 19 per cent on a currency-neutral basis.
2. Net Membership Additions:
o Added 19 million net paid subscribers, marking the highest quarterly growth in Netflix’s history.
3. Profitability:
o Operating income rose by 52 per cent year-over-year to $2.3 billion.
o Earnings per share (EPS) doubled, reaching $4.27 compared to $2.11 in Q4 2023.
4. Content Performance:
o Blockbusters like Squid Game Season 2 and holiday NFL games drove record viewership.
2025 Strategic Outlook
Netflix is poised for continued growth, focusing on content innovation, monetization, and global expansion.
1. Revenue and Profitability:
o Projected revenue: $43.5-$44.5 billion, reflecting 12 per cent-14 per cent growth.
o Operating margin forecast: 29 per cent, up from 27 per cent in 2024.
2. Content Plans:
o Return of fan-favorites like Stranger Things, Wednesday, and Ginny & Georgia.
o New live programming, including FIFA Women’s World Cup rights and NFL Christmas Day games.
o Expansion of gaming, with the successful Squid Game: Unleashed and cloud gaming trials.
3. Advertising Strategy:
o The ad-supported tier accounted for 55 per cent of sign-ups in ad-available countries in Q4.
o Planned rollout of first-party ad-tech in the U.S. by Q2 2025 to enhance targeting and engagement for advertisers.
4. Free Cash Flow and Debt Management:
o Expected free cash flow: ~$8 billion.
o Reduction of $1.8 billion in bonds due in 2025 using proceeds from 2024 debt offerings.
Netflix Co-CEO Ted Sarandos revealed that the company is eyeing streaming of sports in the near future. (Do we expect some amount of cricket rights competition heating up going forward? Sarandos said; “Right now, we believe that the live events business is where we really want to be, and sports is a very important part of that, but it is a part of that expansion.”
The company also unearthed new price points with the standard monthly subscription without advertisements will costing $17.99, up from $15.49; the Standard monthly package with ads will rising from $6.99 to $7.99; 4K video quality subscriptions will be priced at $24.99 as compared to $22.99 now. This new price will first roll out in north America and will be followed by Europe and Apac later.
The hope is that the price increase will push customers towards the ad supported tier which will mean higher ARPUs for Netflix.
iWorld
Prime Video drops trailer for Lukkhe, a rap crime drama starring KING in his acting debut
Eight episodes of revenge, redemption and hard-hitting rap arrive on the streaming platform on 8th May
MUMBAI: Prime Video has unveiled the trailer for Lukkhe, an eight-episode musical action drama built around the world of rap, crime and bruised relationships — and it has done so in suitably loud fashion, launching it at a live concert in Mumbai featuring electrifying performances by KING, Amira Gill, Akshath, Raashii Khanna, Ruaa Kayy and RUTVXK. As if that were not enough, the show’s music album was also dropped at the event, in collaboration with exclusive music streaming partner Amazon Music and music label Warner Music India.
The series is directed by Himank Gaur and produced by Vipul D. Shah and Rajesh Bahl under the banners of Optimystix Entertainment and White Guerrilla LLP. It is created and executive produced by Agrim Joshi and Debojit Das Purkayastha.
The cast is the talking point. KING, the acclaimed Indian rapper and songwriter, makes his acting debut as MC Badnaam, a performer consumed by rivalry and hunger for recognition. Raashii Khanna, returning to Prime Video after Farzi, plays Gurbani. Palak Tiwari, making her streaming debut, plays Sanober. Lakshvir Singh Saran plays Lucky. The ensemble also includes Nakul Roshan Sahdev, Kritika Bharadwaj, Shivankit Parihar, Yograj Singh and Ayesha Raza Mishra in pivotal roles.
The trailer plants its flag squarely in the tension between MC Badnaam and his rival MC OG, played by Parihar, while threading in the love story between Lucky and Sanober. The soundtrack, which spans hard-hitting rap anthems to emotionally charged melodies, is as much a character in the show as any of its leads.
Gaur was candid about what drew him to the project. “Lukkhe gave me a chance to dive into a world that’s loud, emotional, and constantly on edge,” he said. “What stayed with me was how every character is chasing something personal, and music becomes their way of expressing it. Working with this cast, especially KING in his debut, along with Raashii, Lakshvir, and Palak, was incredibly rewarding because they brought honesty that elevated every moment.”
Khanna reflected on her character with evident relish. “Playing Gurbani in Lukkhe was a really intense and fulfilling experience,” she said. “What I found most interesting was how her strength comes from something deeply personal, which shapes every decision she makes. It was about finding that balance between vulnerability and grit.”
KING, stepping in front of the camera for the first time, was characteristically direct. “Stepping into Lukkhe as MC Badnaam has been a defining moment for me,” he said. “What drew me in was how real his hunger and need to be heard felt. It’s something I connect with as an artist. Bringing music into his journey made the experience even more personal.”
Tiwari described the role as a first on multiple fronts. “It was my first time working with Prime Video, and the whole experience felt new and creatively satisfying,” she said. “Being part of a story that has both intense and heartfelt moments, along with a team that brought so much honesty to it, made this journey truly memorable.”
Saran, for his part, zeroed in on what made Lucky tick. “Lucky is someone who’s trying to move forward while still carrying the weight of his past, and that push-pull made him really interesting to explore,” he said. “There’s a sincerity to his journey that I hope people connect with.”
Lukkhe premieres on Prime Video in Hindi on 8th May, across India and in more than 240 countries and territories worldwide. In a streaming landscape drowning in crime dramas, this one is betting that putting a rapper at its centre – and meaning it – is enough to cut through the noise. On the evidence of the trailer, it might just be right.
