The streaming wars are no longer just about subscriber counts — they’re about profit, and 2024 proved that Hollywood’s pivot to profitability is finally working.
For years, Netflix stood alone in turning streaming into a massive business. But as of 2024, the rest of the entertainment giants are catching up. Netflix streaming profit 2024 remained unmatched, but major players like Disney, Warner Bros. Discovery (WBD), and Paramount made big strides toward financial stability in their direct-to-consumer businesses.
Here’s how the top streaming platforms stacked up in 2024’s end-of-year financials.
Netflix
Profit: $10.4B | Revenue: $33.7B (+16%)
Netflix is still king. In 2024, it added 9.5 million global subscribers, hitting 301.6 million total. With hits like Squid Game: Season 2, Fool Me Once, and Bridgerton, it drove immense engagement — even as it earns less per hour than some rivals.
Still, Netflix 2024 streaming profit exceeded $10 billion for the first time, and executives project $44.5B in revenue for 2025.
Disney (Disney+, Hulu) Streaming Profit
Profit: $574M | Revenue: $23.3B (+13%)
For the first time, Disney’s entertainment streaming division (excluding ESPN+) reached profitability. Thanks to strong content — Shōgun, Only Murders in the Building, and Agatha All Along — Disney+ and Hulu found their financial footing.
Disney’s 2024 streaming profit marks a significant milestone in its post-pandemic strategy.
Warner Bros. Discovery (Max, Discovery+)
Profit: $677M (+557%) | Revenue: $10.3B
WBD posted one of the year’s most impressive growth stories. With House of the Dragon, The Penguin, and True Detective: Night Country, Max grew its global subscriber base to nearly 117 million.
CEO David Zaslav aims to reach 150 million by 2026 — insisting that WBD’s streaming profit in 2024 confirms its long-term potential.
Paramount Global (Paramount+, Pluto TV)
Profit: -$497M | Revenue: $7.6B (+13%)
Though still in the red, Paramount made a $1.2B improvement over 2023. With Tulsa King, Landman, and Special Ops: Lioness, it earned the No. 2 spot in domestic original viewing hours.
Executives forecast Paramount+ profitability by the end of 2025, pending a potential Skydance merger.
NBCUniversal (Peacock)
Profit: -$1.8B | Revenue: $4.9B (+44%)
Peacock made the most revenue growth percentage-wise, boosted by the 2024 Olympics, Love Island, and Fight Night. But it also posted the biggest annual loss.
Peacock’s 2024 loss highlights its small subscriber base and heavy investment model. Still, Comcast leadership sees progress ahead — especially with the NBA returning to NBC and Peacock in late 2025.
Takeaways from 2024’s Streaming Profit Landscape
- Netflix 2024 streaming profit remains the industry benchmark, earning over $10 billion in 2024 streaming profit — more than all rivals combined.
- Disney and WBD have turned the profit corner, signaling that traditional studios can make DTC work at scale.
- Paramount and NBCUniversal are closing the gap, improving margins and betting big on tentpole content and sports.
- Ad-supported tiers, bundling experiments, and international growth are expected to define 2025’s streaming strategy.
The Road Ahead for Streaming Profits in 2025
As studios exit the “growth-at-any-cost” era, Wall Street has pivoted focus to return on investment. With platforms like Disney+, Max, and even Prime Video pushing monetization strategies (like bundling and in-house ads), the next year will test who can scale sustainably.
If 2024 was the year studios got serious about streaming profit, 2025 will show who can hold the line.
