Netflix Rides Global Growth Wave As Squid Game 3, Stranger Things 5 Boost Subscribers

Netflix Inc. NFLX shares traded higher on Thursday, lifted by strong international revenue gains, expanding live sports ambitions, and momentum from major content releases including Squid Game Season 3 and Stranger Things Season 5.

The streaming giant strengthened its hold on South Korea's $1.1 billion premium streaming market in the first half of 2025, capturing 8.2 million subscribers and nearly half of total viewership.

The platform’s dominance comes from hits like Squid Game Season 3, fresh theatrical releases, and a Naver Plus partnership that offers free access to its ad-supported tier, the Variety reported on Wednesday.

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Netflix raised Australian subscription prices again, pushing its Premium tier to 28.99 Australian dollars per month, up from 25.99 Australian dollars, a 26% jump since May 2024. The Standard ad-free plan climbed to 20.99 Australian dollars, while the ad-supported version rose to 9.99 Australian dollars. Add-on user charges also increased by 1 Australian dollar to 8.99 Australian dollars for eligible plans, Forbes reported on Thursday.

The company scrapped its Basic plan earlier this year, limiting low-cost options. Since launching in Australia in 2015, Netflix has raised prices six times, eliminated its most affordable ad-free tier, and monetized account sharing. The latest hike keeps Netflix one of Australia’s priciest streaming services.

Last Friday, Netflix reported strong U.K. results and its win of FIFA Women’s World Cup broadcast rights in Canada for 2027 and 2031. The U.K. unit grew 2024 revenue 11% to 1.85 billion pounds ($2.48 billion) on higher memberships, while operating profit reached 43.2 million pounds ($58 million). Netflix has invested $6 billion in the U.K. over four years. The FIFA deal expands its live sports push, following U.S. rights acquisitions and events like WWE Raw, NFL Christmas games, and major boxing matches.

Netflix stock gained over 39% year-to-date, topping the NASDAQ 100 Index’s 14% returns.

Netflix posted strong second-quarter results on July 17. Revenue rose 16% year-over-year to $11.08 billion, beating estimates of $11.04 billion. Earnings came in at $7.19 per share, topping the $7.06 consensus, and the company raised its full-year revenue guidance to $44.8 billion-$45.2 billion, up from a previous range of $43.5 billion-$44.5 billion. 

Analysts praised Netflix’s strong second-quarter performance and raised guidance, highlighting growth drivers like higher membership, price increases, and ad revenue.

Rosenblatt’s Barton Crockett called the results a sign of steady execution, with operating income beating forecasts and ad revenue doubling yearly. He expects engagement to pick up in the second-half with blockbuster releases like Squid Game 3 and Stranger Things 5.

Needham’s Laura Martin also welcomed the results. Still, she flagged weak per-user engagement growth, questioning Netflix’s lack of live sports while noting its push into creator partnerships, GenAI tools, and UI upgrades.

J.P. Morgan’s Doug Anmuth described the quarter as solid, forecasting a surge in engagement from the upcoming content slate and projecting ad-tier subscribers could hit 60 million by year-end.

Bank of America’s Jessica Reif Ehrlich reiterated her bullish stance, citing global revenue growth and strong positioning, but noted that high investor expectations and modest engagement gains may have tempered the stock’s immediate reaction.

Price Action: NFLX stock is trading higher by 3.10% to $1,241.74 at last check on Thursday.

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