Netflix, one of the most popular video streaming platform has recently crossed 200 million paying subscribers. The biggest subscription-based streaming platform has added 37 million subscribers in 2020 alone and continues to expand in various parts of the world. In order to catch up with the fierce competition from Disney+ and Amazon’s streaming platform Amazon prime, Netflix is trying really hard and up to now, it has somehow succeeded.
The covid-19 pandemic made almost all of the people stay home. As a result, Netflix gained millions of new Subscribers in its platform. In the last 3 months alone 8 and half a million users signed up for the streaming platform. Netflix collected revenue of whopping $6.6 billion in the last quarter alone. Thanks in part to the increment in the subscription plans in the United Kingdom and the USA which increases the revenue by 24%. Netflix accumulated a profit of $2.8 billion in the last year alone from the total revenue of $25 billion.
Why people prefer Netflix?
The Netflix original series has been one of the most differentiating factors of Netflix over the years. Users opt into Netflix for the purpose of streaming breathtaking Netflix originals. Netflix has a huge collection of amazing content. Most of the blockbusters and popular tv shows are there ranging from standard up to an amazing quality of 4K UHD. Netflix is one of the most innovative streaming platform available. Frequently it introduces new features and collabs with big production studios for exclusive streaming rights. Netflix is focused on all segments of the industry and provides content for all age groups. from children, teens, adults, and all the way to the elderly. It doesn’t focus only on entertainment only. It often produces educational, sports, and financial documentaries too It’s strong social media presence has helped the company to acquire a lot of users in recent times.
The increment in Netflix Subscribers has directly impacted the company in a positive way. After the company revealed the earnings of Q4 2020 and hinted at the stock buyback plans. Netflix’s shares reached an all-time high with an increase of over 16%.