Netflix Added 30 million Subscribers Last Year, the Second-Largest Increase in the Past Decade

After a massive slowdown in 2022, Netflix subscriber growth gained momentum last year, helping the streaming giant add an impressive number of new users. According to data presented by Stocklytics.com, Netflix added almost 30 million subscribers in 2023, the second-largest increase in the past decade.

The Second-Largest Subscriber Growth After 2020

Over the past ten years, Netflix has grossed more than $192 billion due to its ever-growing subscriber base. Despite its constantly growing prices, the number of people paying for the streaming giant’s services snowballed.

As of October, when the last price growth happened, Netflix users pay $11.99 instead of $9.99 for the basic plan, while the premium account costs $22.99, up from $19.99 before. In comparison, back in 2014, the standard Netflix subscription cost $8.99, and the premium plan was priced at $11.99.

While the latest price increase made many users from Netflix’s biggest market, the United States, consider a cheaper ad-supported plan or even cancel their subscriptions, 2023 was still one of the best years for the streaming giant’s subscriber growth.

According to Statista and the official company data, Netflix added 29.53 million new subscribers last year, three times more than a year before. This also represents the second-largest subscriber growth after 2020, which brought more than 36.5 million new paying users due to the COVID-19 boom in the streaming market. Statistics show that 2018 and 2019 were the only two years with similar growth, bringing 28.6 million and 17.8 million new subscribers, respectively.

Overall, the streaming giant had over $260 million subscribers in December 2023, one-third of whom were from the EMEA region. The United States and Canada comprised 30% of Netflix’s total user count, with 80.1 million subscribers.

Netflix’s Stock Value Jumped by 56% Year-over-Year

The impressive subscriber growth and better than expected financial results in 2023 have helped Netflix to add more than $88.1 billion to its stock value. In February last year, the market cap of the streaming giant amounted to $154.7 billion.

Over the next five months, this figure jumped to over $211 billion. Although the following months saw Netflix’s share price go up and down, with the market cap falling to $175.8 billion in October, the streaming giant bounced back, growing its stock value to $213.1 billion by the end of the year. Statistics show this figure increased by almost $30 billion in the past two months, reaching $242.8 billion last week.