Netflix adds 8.5 mn paid subs in Q4 to blow past 200 mn mark

The streaming giant said it recorded the biggest year of paid membership growth in its history.


NEW DELHI: 2020 may have been a disaster for most, but it’s the year Netflix struck gold. The global streaming giant in its Q4 results shared that it has added 8.5 million paid net additions and crossed the 200 million paid memberships mark.

The pandemic and the ensuing stay-at-home orders helped Netflix add nearly 37 million new subscribers in 2020, up 31 per cent from 2019. The streamer also clocked $25 billion in annual revenue with a growth of over 24 per cent y-o-y.

In the earnings report, the streaming platform said it has grown operating profit by 76 per cent to $4.6 billion.

Interestingly,  83 per cent of Netflix’s paid net adds in 2020 came from outside the UCAN region. The EMEA region accounted for 41 per cent of its full year paid net adds, while APAC was the second largest contributor to paid net additions with 9.3 million (up 65 per cent year on year).

For Q1’21, Netflix expects paid net adds of six million versus last Q1’s 15.8 million which included the impact from the initial Covid2019 lockdowns. Since the start of 2018, its paid memberships have risen from 111 million to 204 million and the average revenue per membership has grown from $9.88 to $11.02. This approach has allowed the platform to organically increase revenue by $4-$5 billion annually over the past several years.

Netflix shared that in scripted English language television, season four of the critically acclaimed The Crown was the biggest season so far and drove new watchers to tune in to prior seasons. Its largest original film of the quarter was The Midnight Sky, and the platform

estimates that 72 million member households will choose to watch this title in its first four weeks.

Queen’s Gambit and Bridgerton were both major hits for the platform. Queen’s Gambit, a show about a female chess prodigy who tastes unparalleled success but struggles with addiction, was viewed by 62 million households in its first 28 days on the service, while Shonda Rimes unconventional take on Regency-era romance Bridgerton is on track to reach 63 million accounts. But a newer show, released this month, underscores Netflix’s global reach. Lupin, a French crime series starring Omar Sy, has become the second-biggest debut in the company’s history. It’s on track to be watched by 70 million households in its first 28 days on the service.

Netflix says it’s ready to unleash a flood of new content to its service. "With over 500 titles currently 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," it added.

The streaming giant has been testing a new feature – Shuffle Play – that gives members the ability to choose to instantly watch a title chosen just for them versus browse. The response has been positive and it plans to roll it out globally in the first half of 2021.

The big question is whether Netflix will be able to hold onto its subscribers. In 2021, the company will face even stiffer competition from the likes of Disney+, HBO Now, Peacock, and the soon-to-be-rebranded Paramount+, all of which promise to deliver new TV shows and movies.

Latest Reads

Jio launches ultra-low broadband plan on the heels of IPL

The IPL 2023 is not too far away, and Jio is all in for it. The scenario only seems to be getting hotter with Reliance Jio Infocomm announcing a new broadband back-up plan at a monthly rate of Rs 198 rupees for unlimited data at 10 Mbps; this would slash entry-level rates by half.

iWorld Gaming
Surinder Films acquires Bengali OTT platform Addatimes

Kolkata headquartered film production company, Surinder Films, has acquired Addatimes, the first Bengali on-demand OTT platform of the country. Surinder Films is one of the leading and revered production houses of Kolkata with which the audience associates quality, novelty and entertainment.

iWorld Over The Top Services
Super4 launches Super4 2.0 app for fans and enthusiasts

Super4, ‘India ka Apna Gaming App’ is one of the most innovative cricket fantasy apps in India. The fast-growing gaming platform has announced the launch of their Super4 2.0 version ahead of the exciting 16 edition of the IPL 2023 season. The upgraded version brings in exciting new features for...

iWorld Gaming
OTTplay ChangeMakers Awards 2023 honors entertainment industry changemakers with inaugural awards

OTTplay, India's first AI-powered OTT subscription, recommendation, and content discovery platform, celebrated the achievements of changemakers in the entertainment industry at the inaugural of OTTplay Changemakers Awards presented by Real Fruit Juices & Beverage.

iWorld Over The Top Services
Jio Cinema to get 60% of IPL 2023 ad revenue, says Media Partner Asia report

Mumbai: The upcoming Indian Premier League (IPL) 2023 starts at end of this week, arriving at a prescient time in India’s media history. The close to two-month long tournament (IPL ends May 28) comes at a time when the form book points to a growing convergence between 4G mobile broadband...

iWorld Over The Top Services
Lawsuit filed against Netflix over insult to Madhuri Dixit

Mumbai:  Author and political analyst Mithun Vijay Kumar has sent a legal notice to Netflix asking the streaming giant to remove one of the episodes of its popular show Big Bang Theory. In the first episode of season two, the character Raj Koothrapalli, played by Kunal Nayyar, uses derogatory...

iWorld Over The Top Services
aha announces changes in its leadership

aha, one of the fastest growing local OTT platforms, recently announced that it will invest over Rs 1000 crore over the next three years to expand into newer genres and languages as well as to finance its ambitions of becoming a complete regional entertainment platform. In line with these plans,...

iWorld Over The Top Services
Hungama unveils its All in One App, combining music and movies for an unparalleled user experience

Mumbai: Over the past decades, Hungama has remained committed to its purpose of providing exciting and immersive entertainment to its users through its services, Hungama Play and Hungama Music. Hungama Play curated video entertainment content including Movies, Hungama Originals, live shows, comedy...

iWorld Over The Top Services
Pocket FM blockbuster audio series 'Insta Millionaire' storms audio entertainment

Mumbai: Pocket FM has made a remarkable achievement as its blockbuster audio series "Insta Millionaire" has surpassed over Rs 30 crore in revenue. With over 900 episodes, this extensive storytelling has taken the world by storm and surpassed 300 million plays across English, Hindi and Tamil,...

iWorld Over The Top Services