Netflix has surpassed 200 million paid subscribers globally

[Polycount]

In context: Netflix, like many other streaming services, saw a sizable boost in subscribers during the Covid-19 pandemic. Due to mandated lockdowns and stay-at-home orders, more people than ever before were looking for ways to stave off boredom during 2020 -- Netflix's massive catalog of on-demand streaming content was (and is) one of the better ways to achieve that goal.

We've reported on Netflix's continued growth several times now, but today marks a particularly impressive milestone: Netflix has officially reached over 200 million subscribers globally.

That's an impressive figure for any streaming service, but it shows just how much the Covid-19 pandemic has affected our habits and entertainment-seeking strategies. For reference, Netflix had 167.09 million paid subscribers by the end of 2019, meaning it added around 37 million new members during 2020.

In other news, Netflix grew its operating profits by 76 percent to $4.6 billion year-over-year, while boosting annual revenue by 24 percent year-over-year (to around $25 billion).

Overall, this is a strong showing from Netflix, but it's hard to say how long the platform can keep this record growth up.

When the pandemic eventually winds down, Netflix will likely once again be competing with movie theaters and other real-world forms of entertainment, though it may be a while before that day comes.

Middle image credit: Vantage_DS

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https://www.techspot.com/news/88343-netflix-has-surpassed-200-million-paid-subscribers-globally.html

 

[Uncle Al]

Like all that enjoy sudden growth, it won't be sustainable and they will have to contend with the rise and fall of popularity but enjoy it while it lasts!

 

[Lounds]

They're also in 15B of debt.

 

[kimo1]

They're also in 15B of debt.

The risk was clear: If Netflix didn’t generate enough cash by the time the debts came due, it would be in serious trouble. Mr. Hastings was betting that the company could attract subscribers (and raise its prices) faster than the debt clock was ticking. (Netflix was surprised that Hollywood waited years to jump into digital television, giving it an even bigger lead.)

The gambit seems to have worked. The company will still have $10 billion to $15 billion in debt, but it said it now made enough revenue to pay back those loans while maintaining its immense content budget.

Time will tell if gambit actually worked.

 

[R00sT3R]

90% of their original content, whether TV or movies, is absolute garbage...got rid of my sub over a year ago.

...but still managed to watch what I've wanted too since then )

 

[GLenn63]

I got rid of my subscription of when they came out with that movie "cuties" sexualizing preteen girls. They act so pious with their politics but are total hypocrites. Who would want their young daughters watching that?