Netflix, Inc. (NASDAQ-NFLX) is an American pay-per-view online movie provider. It is currently available in 190 countries around the world – in North and South America, Europe, Africa, Australia and Asia. Since January 2016, it is also available in the Czech Republic and Slovakia. The company was founded in 1997 and is headquartered in Los Gatos, California. The company began providing services to subscribers in 1999. Initially, Netflix provided movies only on DVDs, which it mailed within the US. Ten years later, the company began providing streaming content over the Internet.
Shares of Netflix, Inc. (NASDAQ:NFLX) have performed solidly this year, rising more than 25% year-to-date, outperforming the Nasdaq:100 index, which has risen about 10% over the same period. Subscriber growth at Netflix has increased significantly, and the company has been building on its ad-supported streaming offerings while cracking down hard on the sharing of its subscribers’ passwords. During the fourth quarter of 2023, Netflix’s subscriber base grew significantly by 13 million subscribers. With this number, the company surpassed Wall Street magazine’s expectations. The total number of subscribers at Netflix is a record 260.8 million accounts.
Netflix also said in January that its next plan for this year is to increase the number of subscribers by 23. To achieve this plan, the company has created a new, attractive package for its users. Priced at a reasonable $7 per month in full high-definition quality, this package includes a limited number of ads. The company began offering this attractive package as a pay-per-share in the US last spring. It is currently looking to make this package available globally. The company is also currently investing more in its gaming business and will also enter into live sports streaming of WWE wrestling programs from January 2025. Netflix is becoming more and more self-aware and, as a result, is also raising prices for its basic and premium services, for example. The premium package saw a price increase of almost 15%. Netflix,Inc (NASDAQ:NFLX) also announced the date it will release its first quarter 2024 financial results and business outlook for the next quarter. The company will release this information on April 18, 2024.
The company generated total sales of $33.7 billion for fiscal year 2023. After deducting all expenses, the company wiped out a net profit of USD 5.41 billion. The company employs 13,000 tribal workers. The company is currently very popular with multinational banking corporations and private investors for buying shares of (NASDAQ:NFLX), which can be expected to grow its share price, which has been set at $700.00 per share, for the short to medium term investment horizon from a high estimate.