The streaming tv chief added some 8.5 million paid subscribers in the quarter to achieve 203 million, topping 200 million regardless of latest worth hikes, its quarterly incomes replace confirmed.
Netflix shares jumped greater than 12 p.c in after-market trades following the discharge.
Profits dipped to $542 million in the fourth quarter, in contrast with $587 million in the identical interval in 2019. But total income in the quarter surged 21.5 p.c to $6.6 billion.
For the complete 12 months, Netflix added a file 37 million paid memberships, in line with the earnings report.
“We’re enormously grateful that in these uniquely difficult instances we have been capable of present our members all over the world with a supply of escape, connection and pleasure whereas persevering with to construct our enterprise,” Netflix mentioned in a letter to traders.
Paid membership elevated 23 p.c in the ultimate quarter of 2020 compared with the identical interval a 12 months earlier, however common income per membership was flat, in line with the Silicon Valley primarily based firm.
While Netflix raised charges barely in the US late final 12 months, the bulk — some 83 p.c — of its new subscribers have been from exterior North America, the earnings report indicated.
Films to launch
Netflix has invested closely in unique reveals and movies to make itself essential service in the more and more aggressive streaming tv market.
Apple, Comcast, Disney and others have taken on Netflix with streaming tv companies of their very own
“The massive development in streaming leisure has led legacy opponents like Disney, WarnerMedia and Discovery to compete with us in new methods, which we have been anticipating for a few years,” Netflix mentioned in the letter.
“This is, in half, why now we have been transferring so shortly to develop and additional strengthen our unique content material library throughout a variety of genres and nations.”
Netflix executives mentioned its productions are again up and operating in most areas after being derailed by the pandemic.
Netflix boasted having greater than 500 titles in post-production or being readied for launch on the service, with the plan being to launch at the least one new unique movie weekly.
Already the grasp of the pandemic-era film panorama, Netflix final week supplied a preview of upcoming 2021 releases, a listing with no fewer than 70 star-studded characteristic movies.
From drama, comedy and science fiction to horror and even Westerns, the slate will take in each main movie style earlier than the 12 months is out, with some releases poised as potential competitors for main awards.
Among the most-anticipated titles is “Don’t Look Up,” from filmmaker Adam McKay of “The Big Short” and “Vice” fame and starring Leonardo DiCaprio.
“The Harder They Fall,” a Western co-produced by Jay-Z and with a primarily Black solid together with Regina King and Idris Elba, additionally guarantees to be one to look out for.
The announcement — by way of a brochure on the streamer’s web site — was accompanied by a brief video introduced by “Wonder Woman” star Gal Gadot, “Jumanji” lead Dwayne Johnson and “Deadpool” actor Ryan Reynolds.
Johnson, Gadot and Reynolds will seem in “Red Notice,” an motion movie with a $160 million price range, in line with US media.