Netflix

After the July 2011 price change and the Qwikster announcement, Netflix lost 0.8 million U.S. subscribers in a quarter, and its stock had fallen more than 40 percent below its pre-increase level by the time Hastings apologised. In January 2025 it raised prices in four markets while reporting 18.9 million paid net additions and forecasting a 29 percent operating margin for the year, up from 27 percent in 2024.

Netflix paid $17.0 billion for content assets in 2024 and ended the year with 301.6 million paid memberships. Its cost of revenues per average paying membership fell from about $86 in 2022 to about $76 in 2024, by our arithmetic from the filings, while revenue per member stayed near $11.70. Operating margin rose from 18% to 27%.