Netflix (NASDAQ:NFLX) stock traded higher on Friday, backed by investor optimism over its U.K. financial arm’s results and FIFA Women’s World Cup deal win.
The streaming giant’s U.K. unit grew revenue 11% in 2024 to 1.85 billion pounds ($2.48 billion) as it expanded in the market, according to its Companies House filing on Thursday.
A Netflix spokesperson told Variety that it has contributed significantly to the U.K. economy over the past four years by investing $6 billion, employing more than 50,000 cast and crew, and collaborating with over 200 producers to create British content that has gained global popularity.
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The company remains committed to the long term, investing more in the U.K. than in any country except the U.S.
Netflix Services U.K. Limited, the British distribution unit, posted an operating profit of 43.2 million pounds ($58 million), down from 53.7 million pounds ($72.1 million) in 2023.
Profit after tax rose to 47.8 million pounds ($64.1 million) from 46.5 million pounds ($62.4 million).
Revenue growth came from an 11% increase in average paid memberships. The company’s income included membership fees and reimbursements for services to Netflix International B.V. and Netflix Inc.
It distributed 50 million pounds ($67.2 million) in interim dividends in July 2024.
The workforce expanded to an average of 263 employees from 220, with investments in content support, finance, legal, and marketing.
Netflix U.K. advanced sustainability efforts with 2030 climate goals and partnered with organizations like the National Youth Theatre to promote diversity and industry access.
Netflix International B.V. became the direct shareholder in May after merging with Netflix Services Holdings B.V.
Netflix acquired exclusive rights to broadcast the FIFA Women’s World Cup in Canada for 2027 and 2031, marking the first such deal in the country, the Deadline reported on Friday. The agreement follows Netflix’s acquisition of U.S. rights to both tournaments, the first time the platform secured full rights to a sports competition.
The 2027 tournament in Brazil will see reigning champions Spain defend their title, while England, the 2023 runners-up, recently defeated Spain in the UEFA European Women’s Championship final. Four-time winners USA exited the 2023 World Cup in the round of 16 after a loss to Sweden.
The deals expand Netflix’s push into live sports, including the Katie Taylor vs. Amanda Serrano 3 boxing match, WWE Raw, NFL Christmas Day games, and upcoming fights like Saul Canelo vs. Terence Crawford.
On soccer, Netflix’s slate features documentaries such as Captains of the World, Beckham, and Sunderland’ Til I Die, with upcoming titles on VinÃcius Júnior and José Mourinho.
The 2027 Brazil tournament will run from June 24 to July 25, with the 2031 edition expanding to 48 teams.
Netflix stock gained 36% year-to-date.
Price Action: NFLX stock is trading higher by 2.50% to $1,209.99 at last check Friday.
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