Streaming companies are desirable to most investors because they continue to outpace other forms of entertainment, including cable and radio. There has been consistent growth within these streaming companies, with more and more users looking to take advantage of what they offer in terms of content and convenience from on-demand programming and audio streaming.

Investors could be excited about the stocks listed below because they saw massive growth this year and continue improving subscriber numbers, making them great additions to any portfolio. Consider picking up these streaming stocks.

Spotify Technology (SPOT)

Spotify Technology (NYSE:SPOT), headquartered in Stockholm, Sweden, operates as an audio streaming platform. The company is a premium subscription-based service, which includes unlimited online streaming of its entire catalog of music and podcasts without ads. The service also has downloads enabled, allowing offline listening. Its commercial-based product, which is free, allows for on-demand listening — but with commercials.

Spotify’s most recent earnings release for the third quarter of 2023 stated that total revenue grew by 11% compared to last year. The company reported a net loss of 166 million euros in Q3 2022 and a net income of 65 million euros in Q3 2023. Spotify experienced 10% growth in its premium subscription revenue and 16% growth within the ad-backed subscription service within the same period.

Spotify saw considerable growth this year, and its share price surged by 123% due to increased profitability and reoccurring subscriptions. Its stock continued to rally following the company’s positive earnings results from the third quarter.

There is a decent amount of attention towards Spotify’s subscriber numbers and whether they will increase steadily going forward or experience a slowdown.

Netflix (NFLX)

Netflix (NASDAQ:NFLX), located in Los Gatos, California, is an entertainment streaming service with various programming, including films, documentaries and TV shows. The company has almost 250 million subscribers worldwide.

Its third-quarter earnings report, released on October 20, stated revenue grew by 8%, and net income rose by 20% compared to the previous year. But, where Netflix got the attention of investors was in the sizeable year-over-year subscriber growth. The U.S. and Canada segments saw a 1,583% increase, and Europe, the Middle East and Africa experienced a 596% increase. And in Latin America, Netflix saw subscribers grow by 278%. Much of this subscriber growth resulted from the company cracking down on password sharing, resulting in more individuals getting their own Netflix subscriptions. 

Following this recent earnings report, which showed a massive jump in subscriber growth, Netflix’s stock price jumped by 16% and has continued to climb since then.

Investors are excited to see if Netflix can continue with this large amount of subscriber growth and if its goal of curbing password sharing continues to suit the company and the impact of its planned price increase for subscription tiers.

Roku (ROKU)

Roku (NASDAQ:ROKU), based in San Jose, California, is a TV streaming service that enables users to access programming, including TV shows, movies, sports and news. It also operates a large advertising segment of its business. The company sells Roku-branded remote channel buttons and Roku-enabled Smart TVs.

Over the past year, Roku saw an increase in its share price of approximately 91%, mainly due to its recent slate of positive results. On November 1, the company released its earnings report for the third quarter. It showed a net loss that more than doubled, and its revenue grew by 20%. However, its advertising reported growth and improved sales on Roku-branded TVs. Following this earnings report, Roku’s stock rallied by 31%.

Roku attracts investors due to its positive results, especially with advertising, and it delivers more content to its customers.

As of this writing, Noah Bolton did not hold (directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.