The company got a boost from the Coronavirus pandemic which forced consumers to spend more time at home and thus streaming demand jumped.
Netflix Inc. closed out 2020 with more than 200 million subscribers as Covid-19 restrictions helped it to gain viewership, the streaming giant has said.
The numbers were revealed on Tuesday as Netflix reported its results for the fourth quarter which saw an addition of over 8.5 million paid subscribers to the platform. The company got a boost from the Coronavirus pandemic which forced consumers to spend more time at home and thus streaming demand jumped.
Average paid streaming memberships increased 23 per cent year over year in Q4, while average revenue per membership was flat year over year both on a reported and foreign exchange neutral basis, Netflix said.
"Since the start of 2018, our paid memberships have risen from 111m to 204 million and our average revenue per membership has grown from $9.88 to $11.02, despite significant F/X (foreign exchange) headwinds," the company said.
"This approach has allowed us to organically increase revenue by $4-$5 billion annually over the past several years," it added.
In the fourth quarter, Netflix reported revenue of $6.64 billion.
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