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Entertainment Netflix cracks the mark of 200 million users - share takes off

11:05  20 january  2021
11:05  20 january  2021 Source:   t3n.de

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Netflix capped off a year of impressive streaming growth by adding 8.5 million net new paying subscribers during the fourth quarter. In response to the earnings report, Netflix shares were up 12.4% in after-hours trading (as of 4:43 p.m. Eastern). Looking ahead, Netflix projected that it will add

Netflix powered past the 200 million subscriber mark in 2020 to cap its biggest-ever year of growth, driven by viewership gains during COVID-19. Netflix soundly beat analyst expectations for subscriber growth in Q4, adding more than 8.5 million users .

Netflix knackt Marke von 200 Millionen Nutzern – Aktie hebt ab © dpa Netflix hits the mark of 200 million users - share takes off

Netflix is ​​at the end of the year thanks to series hits like "The Queen's Gambit" or "The Crown" despite intensified competition grown strongly.

In the three months to the end of December, the number of paying subscribers to Netflix rose by 8.5 million to just under 204 million, as Netflix announced on Tuesday after the US market closed. This was the first time that the 200 million user mark was broken. The numbers clearly exceeded our own forecast and the expectations of the analysts. The share reacted after the trading day with a price jump of 13 percent.

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Netflix powered past the 200 million subscriber mark in 2020 to cap its biggest-ever year of growth, driven by viewership gains during Covid-19. For the full year, Netflix gained 36.6 million streaming customers — its highest annual gain, beating its previous record of 28.6 million in 2018.

Netflix Inc said on Tuesday its global subscriber rolls crossed 200 million at the end of 2020 and projected it will no longer need to borrow billions to finance its broad slate of TV shows and movies. Shares of Netflix rose 12% to 4 in extended trading as the financial milestone validated the

Revenues grew more than 20 percent year-over-year to $ 6.6 billion. The profit was, however, with 542 million dollars (447 million euros) a little less than a year ago. Netflix is ​​fighting financially strong competitors with high investments who want to steal customers from the streaming market leader with newer video services. Disney Plus , for example, is experiencing very strong growth, but other services such as HBO Max or Peacock are also putting Netflix under pressure alongside more established rivals such as Amazon Prime or Hulu. They all benefit from the streaming boom caused by the corona crisis.

2020 was an "incredibly difficult year"

Even though the letter to shareholders said 2020 was an "incredibly difficult year", Netflix was without a doubt one of the big winners. The fact that cinemas remained closed because of the pandemic and that many people were stuck at home brought the company an enormous increase in customers. Overall, thanks to the hype surrounding the “Tiger King” series, Netflix gained a record 37 million new subscriptions and increased sales by almost a quarter to around 25 billion dollars. Operating profit shot up 76 percent to $ 4.6 billion.

The company from Los Gatos, California, also has a good position on the stock exchange, with the share increasing by around 67 percent last year. After the stock market closed, the management's announcement in the annual report that it would consider buying back shares for the first time since 2011 was another boost. The outlook for the current first quarter was meanwhile relatively cautious, Netflix is ​​forecasting an increase of six million to almost 210 million users. Most analysts had expected a higher forecast here. dpa

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