Netflix shares moved firmly higher in early Wednesday trading, and look set to pass the $1,000 mark for the first time on record, following a blowout set of fourth quarter earnings that cemented its lead as the world's biggest streaming group and triggered a flurry of upgrades from analysts on Wall Street.

Good afternoon, and welcome to the Netflix Q4 2024 earnings interview. I'm Spencer Wang, vice president of finance, IR, and corporate development. Joining me today are co-CEOs, Ted Sarandos and Greg Peters; and CFO, Spence Neumann. As a reminder, we will be making forward-looking statements, and actual results may vary.

Netflix reached 302 million paid subscribers globally, adding 19 million new subs in Q4. It will be the final time Netflix shares subscriber totals.