January 20, 2021
Netflix’s two day StreamFest in December 2020 where users in India could practically watch Netflix’s entire catalogue for free brought millions of users to the service, Netflix’s chief operating officer Greg Peters said during a call with investors on Tuesday. Now, the company is analysing how that interest through this specific tactic can be converted into sustained incremental growth, Peters said. The online streaming platform now has over 200 million subscribers.
Netflix added more than 8.5 million new users during Q4 of the current financial year, recovering from its slump in the previous quarter during which it added a little over 2 million subscribers. Over the last three years, Netflix’s average revenue per user (ARPU) has grown by about 10%. Three years ago, it’s ARPU was just under $10,and has now grown to $11 in the last quarter, according to Spencer Wang vice president of finance, investor relations and corporate development at Netflix.
ARTS / CULTURE & LEISURE By AFP Published: Jan 20, 2021 06:03 PM
Gal Gadot Photo: IC
Netflix on Tuesday topped subscriber growth expectations in the past quarter, keeping ahead of new streaming rivals competing for viewers stuck in their homes during the coronavirus pandemic.
The streaming television leader added some 8.5 million paid subscribers in the quarter to reach 203 million, topping 200 million despite recent price hikes, its quarterly earning update showed. COVID-19 has accelerated that big shift from linear to streaming entertainment, Netflix chief financial officer Spencer Neumann said on an earnings call. So, the underlying long-term looks good.
The company s cash flow was so strong that it will no longer borrow money to pay for operations, and is considering starting to buy back shares, according to a letter to investors.
Netflix continues to shine in the pandemic, hits 203 mn subscribers
SECTIONS
Last Updated: Jan 20, 2021, 10:20 AM IST
Share
AP
The company s cash flow was so strong that it will no longer borrow money to pay for operations, and is considering starting to buy back shares.
Related
SAN FRANCISCO: Netflix on Tuesday topped subscriber growth expectations in the past quarter, keeping ahead of new streaming rivals competing for viewers stuck in their homes during the coronavirus pandemic.
The streaming television leader added some 8.5 million paid subscribers in the quarter to reach 203 million, topping 200 million despite recent price hikes, its quarterly earning update showed.
Netflix crosses 200m subscriber mark in pandemic-boosted year Covid-19 accelerated ‘big shift from linear to streaming’, says chief financial officer
Wed, Jan 20, 2021, 12:58 Updated: Wed, Jan 20, 2021, 15:19
Netflix’s Bridgerton, featuring Claudia Jessie (left) and Irish actor Nicola Coughlan, is on track to reach 63 million households, the streamer said. Photograph: Liam Daniel/Netflix
Netflix ended its biggest year in company history with a bang, adding more customers than expected and saying it no longer needs to borrow money to build its entertainment empire.
The world’s leading paid streaming service attracted 8.51 million new subscribers in the final three months of the year, helped by the popularity of hit shows such as Bridgerton and The Queen’s Gambit.
Netflix Tops 200 Million Subscribers as It Keeps Growing in Pandemic
Netflix said its cash flow was so strong that it will no longer borrow money to pay for operations and is considering starting to buy back shares. By Agence France-Presse | Updated: 20 January 2021 10:19 IST
For the full year, Netflix added a record 37 million paid memberships, according to the earnings report
Highlights
Netflix productions are back up and running in most regions
Netflix boasted having more than 500 titles in post-production
Netflix on Tuesday topped subscriber growth expectations in the past quarter, keeping ahead of new streaming rivals competing for viewers stuck in their homes during the coronavirus pandemic.