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Netflix added 37 million new paying subscribers in 2020 while cinemas struggled amid pandemic

According to Netflix, it reached over 200 million paid subscribers worldwide riding high thanks to a global lockdown last year.

twitter-logoKetan Pratap | January 21, 2021 | Updated 13:31 IST
Netflix office
Netflix office

Highlights

  • Netflix added 37 million new paid subscribers last year.
  • The streaming platform now has 203.6 million paying customers worldwide.
  • In 2019, Netflix added 28 million new paying users.

Netflix had a record-setting year while cinemas struggled to remain open globally during the pandemic. The streaming service in its earnings report has revealed that it crossed the 200 million paid memberships mark worldwide. Talking about Q4, Netflix said it added 8.5 million paid subscribers which took the overall number to 37 million paid subscribers added in 2020.

The report also claims that Netflix has over 500 titles in post-production or set to launch.

"With over 500 post-production in post-production or preparing to launch on our service and plans to release at least one new original film every week in 2021 with extraordinary talent, we're confident we'll continue to have a great content offering for our members," the company said in its earnings report.

Netflix has seen a massive addition of paying subscribers in the last two years. To compare, Netflix had 111 million paying subscribers in 2018, and by the end of 2020, it crossed 200 million.

The earnings report from Netflix also adds that the streaming platform saw 83 per cent of new subscribers coming from outside the US and Canada. Offering further breakdown, the company said half of the new paid subscribers were from Europe, the Middle East, and Africa while the second-largest contributor was Asia-Pacific region.

Netflix adds that impact from the initial COVID-19 lockdown restrictions offered it a good push and added 15.8 million paid users in Q1, 2020.

Netflix grows to over 200 million subscribers

Netflix has also listed some hits from 2020 that garnered massive views including The Crown, seen by over 100 million people while other popular titles included Lupin, Tiger King and The Queen's Gambit.
The platform also acknowledged some of the competition from Disney, WarnerMedia and Discovery.

"Discovery recently launched its streaming service. Disney+ is expanding in new countries and with more content. ViacomCBS will be unveiling its plans for Paramount+ in 2021. Combined with the launch of AppleTV+, WarnerMedia's HBO Max, and NBCUniversal's Peacock streaming services, this signifies that these companies all recognize the future is streaming entertainment, a vision we have been working towards since inception," Netflix said in its earnings report.

In India, Netflix scored big with StreamFest event in December, allowing users to sign-up and watch shows, documentaries, and movies without paying for 48-hours.

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