Netflix Now Has over 200 Million Paid Subscribers

Netflix Now Has over 200 Million Paid Subscribers
As the COVID-19 pandemic compelled us to adapt to a brand new type of way of life that restricted us to our properties, we now have seen the rise of many OTT platforms previously yr. One of those is, after all, Netflix. The US-based streaming large introduced right this moment that it has surpassed a serious milestone. It now has over 200 million paid subscribers.

In its fourth quarterly results, Netflix shared {that a} report 37 million subscribers have joined the service in 2020 alone. This is near a 31% annual enhance when in comparison with the variety of subscribers it gained again in 2019. This was primarily due to the obligatory COVID-19 lockdowns in most components of the world. Also, a variety of main films launched on digital platforms as a substitute of the theaters.

“Since the start of 2018, our paid memberships have risen from 111 [million] to 204 [million] and our average revenue per membership has grown from $9.88 to $11.02,” Netflix stated in its latest earnings report.

As per the report, as a substitute of within the US or Canada, a lot of Netflix’s development passed off in international markets in 2020, particularly within the areas of Europe, Africa, and the Middle East. The firm gained solely 860,000 new subscribers from the US and Canada within the final quarter of 2020. Whereas, the proportion of recent subscribers from the stated areas accounted for over 41%. The platform gained more than 2 million subscribers in India as nicely. It may very well be attributed to the mobile-only subscription and the Netflix StreamFest promotion, which let anybody binge-watch the corporate’s whole content material catalog over the weekend.

However, as extra new platforms have began to emerge, the market of digital content material streaming is turning into profitable day-by-day. As a outcome, the competitors within the present OTT scene is fairly tight, as many of the platforms are actually developing with their very own originals which can be unique to the corresponding digital platforms. So, one of many main questions is that may Netflix maintain on to its pole place in 2021 amidst the rising record of digital streaming platforms?

Well, the corporate says that it is able to tackle the competitions and aiming so as to add a bunch of recent films and TV exhibits to its digital library.

“With over 500 titles currently in post-production or preparing to launch on our service and plans to release at least one new original film every week in 2021 with extraordinary talent, we’re confident we’ll continue to have a great content offering for our members,” Netflix added within the earnings report.

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