Amid a pandemic that’s left many confined to their living quarters, 200 million streamers signed up for Netflix subscriptions, the company announced Tuesday.
Netflix acquired its 200 millionth subscriber, with 37 million of those subscribers joining in 2020, according to the California-based streaming service’s earnings report.
“We’re enormously grateful that in these uniquely challenging times we’ve been able to provide our members around the world with a source of escape, connection and joy while continuing to build our business,” said an internal shareholder letter shared with the Washington Examiner. “With 8.5m paid net additions in Q4, we crossed the 200m paid memberships mark. For the full year, we added a record 37m paid memberships, achieved $25 billion in annual revenue (+24% year over year) and grew operating profit 76% to $4.6 billion.”
Netflix “achieved $25 billion in annual revenue” during its fourth quarter to be followed by anticipated paid net adds of 6 million in the first quarter of 2021, which factored in “the impact from the initial COVID-19 lockdowns,” according to the letter.
“Our strategy is simple: if we can continue to improve Netflix every day to better delight our members, we can be their first choice for streaming entertainment,” it said. “This past year is a testament to this approach.”
Netflix announced 70 movies to be released in 2021 in a statement on Jan. 12.
“We’re kicking 2021 off with a bang. This year’s line-up will surprise and delight cinephiles across the globe with films from Award winning filmmakers,” it said. “Netflix will bring you a new movie every week.”
Netflix faces stiff competition as mega-movie companies are building out their own streaming capacities. Recent entries into the digital streaming industry include Disney+, a Walt Disney Company video-on-demand service launched in November 2019, and Peacock, NBC’s 6-month-old streaming venture.
Netflix denied a request for comment.
