In context: Netflix, like lots of other streaming services, saw a large increase in subscribers during the Covid-19 pandemic. Due to mandated lockdowns and stay-at-home orders, more individuals than ever before were looking for methods to ward off monotony throughout 2020– Netflix’s huge brochure of on-demand streaming content was (and is) one of the better ways to achieve that objective.
We’ve reported on Netflix’s ongoing growth several times now, but today marks an especially outstanding turning point: Netflix has actually formally reached over 200 million customers globally.
For referral, Netflix had 167.09 million paid subscribers by the end of 2019, indicating it added around 37 million brand-new members throughout2020
In other news, Netflix grew its operating revenues by 76 percent to $4.6 billion year-over-year, while improving annual revenue by 24 percent year-over-year (to around $25 billion).
General, this is a strong proving from Netflix, however it’s tough to state how long the platform can keep this record development up.
When the pandemic ultimately winds down, Netflix will likely once again be taking on cinema and other real-world kinds of home entertainment, though it may be a while prior to that day comes.
Middle image credit: Vantage_DS