Background: Netflix is the OG of the streaming platforms that launched back in 1998 as a DVD rental business before shifting into the streaming world. In fact, Netflix’s founders famously tried to sell the business to Blockbuster back in 2000 for $50 million…oh, how the tables have turned.‍

What happened: Now, Netflix has announced it hit 300 million global subscribers in the most recent quarter for the very first time - this is a jump of nearly 19 million net new subscribers. Throw on top of that, its profit doubled from a year earlier to nearly $1.8 billion. So it’s no surprise that investors were doing the Wednesday Addams dance as its share price skyrocketed 14%.

‍What else: Netflix claims that the Jake Paul vs Mike Tyson boxing match brought in millions of new subscribers, alongside new NFL games over the Christmas period. But the icing on the cake was the release of Squid Game 2, which kept new subscribers on the platform.

What's the key learning?

💡Come for the specials, stay for the series. Recently, we’ve seen every broadcaster vying for live sports rights, because they’re seen as a way to differentiate themselves in a very crowded streaming market.

💡In Australia, you’ve got several streaming platform such as:

• DAZN acquiring Foxtel for $3.4 billion - largely for its sports rights
• Optus with the English Premier League
• Stan with the rugby and Aus Open
  

💡But Netflix is going for a different strategy - it's targeting the one-off specials as opposed to the full season of any major sports. Paul-Tyson fight and NFL games drove over millions of subscribers but now they're also sticking around for its quality content like Squid Game. And this is what we call the ultimate Mike-Tyson-1-2-punch.