Netflix’s performance in 2024 has cemented its place as a streaming industry leader, setting a benchmark that will be challenging for competitors to surpass in 2025, according to Parrot Analytics. With an 83% share price increase—its highest since 2015—Netflix significantly outpaced Disney’s 22% rise, while Warner Bros. Discovery, Comcast, and Paramount Global reported double-digit losses. This surge reflects the company’s strategic focus on subscriber retention, content expansion, and a robust supply of global streaming originals.
The decision to stop reporting subscriber growth after this quarter signals an industry-wide slowdown. However, Netflix has outlined a path to sustain its momentum: leveraging its dominance in global original content demand, expanding into live events and sports, enhancing retention in high-churn markets, and continuing to deliver value that supports price increases without triggering subscriber loss.
Netflix achieved subscriber retention across all major regions. In the Asia-Pacific (APAC) region, APAC contributed the second-largest average quarterly net adds over the last five quarters. In the third quarter of 2024, Netflix’s churn rate hit a record low of 2.17%, far ahead of Prime Video’s 3.7%. In the Europe, Middle East, and Africa (EMEA) region, this region saw the largest average quarterly net adds since late 2023, with churn rates remaining consistently low between 1.85% and 1.88% throughout 2024. Paramount+ was the closest competitor with a 4.94% churn rate in the third quarter of 2024. In Latin America (LATAM), Netflix’s churn rate dropped steadily from 1.6% in the first quarter to 1.41% in the third quarter of 2024, significantly outperforming Prime Video’s 4.36% in the same quarter. These metrics underscore Netflix’s ability to foster subscriber loyalty through a diverse and engaging content library.
From 2020 to 2024, the global supply of streaming original titles increased by 321% as companies prioritized direct-to-consumer platforms. However, the growth rate of global streaming originals has declined for seven of the past eight quarters due to cost-cutting measures and the Hollywood labor strikes of 2023. This slowdown has allowed Netflix to strengthen its competitive edge by maintaining a steady content pipeline. In the fourth quarter of 2024, Netflix’s supply share of global streaming originals reached 24.9%, its highest since the first quarter of 2022. The company’s strategy of releasing major titles, such as "Squid Game" Season 2 and "Carry-On," during the fourth quarter contributed to this surge.
For the first time, Netflix ranked fourth in corporate demand share for the entire year, overtaking NBCUniversal in the third quarter of 2024. This category, which values all original TV content under a company’s umbrella, is typically dominated by legacy studios. Netflix’s demand share—driven by a catalog that began in 2012—outperformed NBCUniversal, whose programming dates back to the 1940s. Netflix was the only top-five company to grow its corporate demand share in 2024. Netflix’s demand share increased by 0.8%, while Warner Bros. Discovery’s fell by 0.3%, NBCUniversal’s by 0.5%, Paramount Global’s by 0.8%, and Disney’s by 1.3%.
With a proven track record of innovation and adaptability, Netflix is poised to lead the streaming industry in 2025 and beyond. Its ability to retain subscribers, expand content offerings, and capitalize on shifts in the industry landscape ensures its continued dominance in the ever-competitive streaming market.