Can Netflix Double Its Subscriber Base by 2024?

Wolfe Research’s views on Netflix

Wolfe Research managing director Marci Ryvicker believes that Netflix’s (NFLX) subscriber count could double by 2024, with the company reaching ~36% of the estimated 850 million available broadband homes worldwide. She predicts that Netflix could dominate the industry with its vast subscriber base and higher pricing, despite stiff competition from existing players such as Amazon, Hulu, HBO Now, and new players such as Disney, WarnerMedia, Comcast, and Apple.

Can Netflix Double Its Subscriber Base by 2024?

Netflix’s subscribers and pricing

Netflix reaches its global paid subscriber base of 148.9 million through mobile devices, laptops, and, television. The company anticipates having 153.86 million paid subscribers in the second quarter.

In the first quarter, the streaming giant added 9.6 million paid subscribers globally, of which were ~1.74 million were in the US, and ~7.86 million were international. Its global subscriber additions in Q1 2019 rose 16.2% year-over-year from 8.26 million additions in and 8.6% sequentially from 8.84 million additions, signaling higher demand for video streaming services. Netflix’s massive investments in original programming have helped grow its subscriber base.