Netflix in Africa… an evolving story…
Netflix’s Q3 2024 earnings report on October 17, and subsequent call, were certainly loved by the stock market given the reaction.
You will find both the earnings report and the earnings call here.
I scrutinized the earnings report and the call for insights into their Africa strategy.
Co-CEOs Greg Peters and Ted Sarandos, along with CFO Spencer Neumann, covered several topics: the company’s global content strategy with emphasis on diverse productions and success in over 50 markets; engagement metrics that remained strong with users averaging about 2 hours of viewing daily; major growth in the ad-supported tier, with 50% of new sign-ups in eligible regions choosing this option; future initiatives including live events and gaming, as well as ambitious content plans for 2024 and 2025.
The call also covered competition with YouTube—prompted by recent analyst concerns about its growing influence, which is of some relevance in the African market—alongside Netflix’s cautious approach to integrating AI in content creation and its strategies for international expansion.
So where is Africa’s place in all this excitement, especially as we head into 2025?
Akoroko Premium subscribers received an in-depth analysis of the Q3 2024 earnings report and call, contextualized with current market realities that suggest the company is negotiating its most complicated landscape yet, where traditional streaming models face major barriers to advancement.
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