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