It’s Been Quite a Year for Netflix

It’s Been Quite a Year for Netflix
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Did you know: Netflix series accounted for nine out of the 10 most searched shows globally in 2020. Netflix’s latest report highlights some of its biggest milestones:

Over 200 Million Subscribers

Netflix‘s subscribers surpassed 200 million as the company closed out 2020. This new milestone further cements the company’s position as the world’s biggest subscription streaming video service of its kind. 

The streaming giant announced that its subscribers increased by 8.51 million between October 2020 and December 2020. Its total subscribers hit 204 million worldwide, 2.4 million over the number expected by analysts.

“Netflix ended 2020 on a high note, adding over 36 million subscribers and passing 200 million subscribers. Despite increasing competition from Disney and others, Netflix had its strongest year yet and will look to grow further in 2021, with a strong content release slate already planned. So far, Netflix has been a clear winner of the streaming wars.” Eric Haggstrom, EMarketer analyst

Plenty of Cash

In this last quarter, Netflix reported a profit of $542.2 million, or $1.19 a share. Its revenue climbed by 22% to $6.64 billion.

Additionally, after spending billions and billions of loans to cover huge deficits for the past decade, Netflix has reached financial self-sufficiency and created a sustainable entertainment enterprise. With $8 billion in cash on hand, that company stated “we believe we ​​no longer have a need to raise external financing for our day-to-day operations.” The streaming service now has plenty of cash. As a result, it is considering buying back some of its shares, something it hasn’t done since 2011. 

In response to the earnings report, Netflix shares were up 12.4% in after-hours trading.

Shuffle Play

Netflix is officially bringing “shuffle play” to customers worldwide this year. This new feature allows subscribers to turn over the decision of what to watch next to the streamer’s algorithms. This way instead of members spending hours browsing what to binge next, they simply click a button allowing the company to decide for them.

Currently, the test versions of shuffle play show up on Netflix’s connected-TV apps.

Competition

The company didn’t fail to mention the growing competition int he streaming industry, such as Disney+, Peacock and HBO Max. However, Netflix’s number of subscribers put these relatively new competitors far behind it.

EMarketer analyst Eric Haggstrom stated, “Netflix ended 2020 on a high note, adding over 36 million subscribers and passing 200 million subscribers. Despite increasing competition from Disney and others, Netflix had its strongest year yet and will look to grow further in 2021, with a strong content release slate already planned. So far, Netflix has been a clear winner of the streaming wars.”

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