Netflix sees a surge in subscribers in the company’s fourth quarter

(NBC, KYMA/KECY) - Netflix subscribers have surged in its fourth quarter. The company reported it added 13.1 million subscribers in the December quarter. That's the largest ever fourth quarter subscriber growth, which exceeds the projected gains of 8.97 million.

Revenue rose to 8.83 billion, up from 8.54 billion in the third quarter and leading Netflix to forecast revenue of 9.2 billion in the first quarter.

That brings the total number of subscribers to 260 million.

The streaming giant is expecting healthy double-digit revenue growth for full-year 2024 as it continues to add members and invest in its advertising business.

The company has said that advertising is not yet a primary driver of revenue growth, but it aims for that to change by 2025.