Netflix shared its Q4 2020 financial results today, writing in a letter to shareholders that it had 8.5 million paid net additions to its subscriber base in Q4, bringing the total amount of paid Netflix subscribers to 200 million. Netflix added 37 million paid members in 2020 and reached $25 billion in revenue, a 24% increase year over year.
While Netflix acknowledged increases competition from Disney+, HBO Max, Discovery, and others, the company wrote that it was prepared. “This is, in part, why we have been moving so quickly to grow and further strengthen our original content library across a wide range of genres and nations,” the letter to shareholders says.
Some notable content from the last quarter of 2020 included season four of The Crown, which Netflix says was the biggest season so far. The most popular Netflix original film for the quarter was George Clooney’s The Midnight Sky which was viewed by 72 million households in its first four weeks on the platform. Bridgerton was also mentioned in the letter and Netflix has promised more news about the series this week.
“Netflix ended 2020 on a high note, adding over 36 million subscribers and passing 200 million subscribers,” said eMarketer analyst Eric Haggstrom. “Despite increasing competition from Disney and others, Netflix had its strongest year yet and will look to grow further in 2021, with a strong content release slate already planned. So far, Netflix has been a clear winner of the streaming wars.”
Source: Cord Cutters News