Netflix Surpassed 200 Million Subscribers

Netflix credited its miniseries'The Queen's Gambit with helping draw viewers during the fourth quarter when it added a net 8.5 million subscribers

For the full year, Netflix added a record 37 million paid memberships, achieved $25 billion in annual revenue - over 24 per cent year over year - and grew operating profit 76 per cent to $4.6 billion. On Tuesday, the company said it expected free cash flow to break even in 2021, adding in a letter to shareholders, "We believe we no longer have a need to raise external financing for our day-to-day operations".

Netflix stock was up $84.57 to close at $586.34 on Monday.

Netflix expects the next quarter to grow from 203 million subscribers now to 209 million.

The world's largest streaming service had raised $15 billion through debt in less than a decade.

Meanwhile, the fourth season of the British royal family drama The Crown became the series' biggest season so far, with the number of households watching the series reaching over 100 million since its launch in 2016.

Netflix revealed yesterday that it has over 200 million paying first-time subscribers.

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Net income fell to $542.2 million, or $1.19 per share, from $587 million, or $1.30 per share, a year earlier.

For the quarter ended December 31, Netflix added more than 8.5 million subscribers on a net basis, a gain that surpassed its forecast for the period.

"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". "This past year is a testament to this approach", the company said in the earnings report.

An nameless reader quotes a report from Vox: [T] he story actually begins in 2008, when Netflix broke into streaming in a giant method, by a backdoor: It bought the digital streaming rights to films from Disney and Sony - that's, films you have heard of, like Pirates of the Caribbean - from Starz, the pay TV channel.

"This is in sharp contrast to Disney and many other new entrants into the streaming market who expect to lose money on streaming for the next few years", said eMarketer analyst Eric Haggstrom. It added 860,000 subscriptions in the USA and Canada in the period, but gained two million subscribers in Asia, more than 1.2 million in Latin America and 4.5 million in the region covering Europe, the Middle East and Africa.

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