Netflix Hits 200m Users Worldwide
Netflix has hit more than 200 million active users for the first time since its inception in 2007.
The streaming giant ended 2020 with a staggering 203.7 million subscribers, aided by the pandemic lockdown which has seen consumers stuck at home turn to streaming entertainment.
Netflix revealed it added more than 8.5 million subscribers in the fourth quarter of 2020 and signed up a record 37 million users during the year.
It subscriber base has doubled since 2017, when it hit the milestone of 100 million paying customers.
The California-based company generated $US6.64 billion in fourth quarter revenue, up from $5.45 billion for the same period in 2019.
Overall profit however decreased from $542 million to $587 million. It is now worth $1.19 a share, compared to $1.30 per share a year earlier.
Netflix’s strongest performers in the fourth quarter include Bridgerton, The Queen’s Gambit, The Crown and George Clooney’s Midnight Sky.
The streaming service also says it has more than 500 titles in post-production or ready for launch. Its schedule for next year will see a new release every week for 2021.
Other streaming services have benefited from COVID-19, with Disney+ edging closer to 90 million subscribers a little over a year since its launch.
As of April 2020, Netflix has the most subscribers in Australia at 11.9 million, followed by Foxtel at 5.2 million and Stan with 3.3 million users.