Netflix global subscriber count crosses 200 million; forecasts an end to borrowing
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
Reuters | January 20, 2021 | Updated 07:54 IST
With the new customers, Netflix s worldwide membership reached 203.7 million
Netflix Inc said on Tuesday its global subscriber rolls crossed 200 million at the end of 2020 and projected it will no longer need to borrow billions of dollars to finance its broad slate of TV shows and movies. Shares of Netflix rose nearly 13% in extended trading as the financial milestone validated the company s strategy of going into debt to take on big Hollywood studios with a flood of its own programming in multiple languages.