Netflix's Blockbuster 2024: Soaring Shares and Live Sports Success

Netflix's shares rose sharply after a successful holiday quarter, driven by new subscribers and ventures into live sports. The company added 18.9 million subscribers, surpassing expectations. Netflix's revenue and profit also exceeded estimates and several analysts increased their stock price targets. Price hikes for subscription plans were announced for several regions.

Netflix's shares skyrocketed in premarket trading following a stellar holiday quarter. The streaming titan's content lineup and entry into live sports drew a record number of subscribers.

Its stock jumped 14%, poised to elevate its market cap by $53 billion. The pivotal year 2024 saw partnerships with WWE, broadcasting NFL Christmas games, and securing rights to the 2027 and 2031 FIFA Women's World Cups.

Analysts hailed Netflix's market dominance, citing its superior content and strategic investments. With soaring subscriber numbers and financial success, the company announced price hikes in multiple regions, anticipating minimal resistance.

(With inputs from agencies.)