Netflix expects paid subscriber addition of 6 mn in Q1

Netflix revealed that the number of paid subscribers have crossed 200 million in 2020 as Covid-19 restrictions helped it to gain video viewership.
Netflix on televisionNetflix added over 8.5 million paid subscribers to the video streaming platform in the fourth quarter of 2020.

Netflix said average paid streaming memberships increased 23 percent year over year in Q4, while average revenue per membership was flat year over year both on a reported and foreign exchange neutral basis.

“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,” Netflix said.

“This approach has allowed us to organically increase revenue by $4-$5 billion annually over the past several years,” Netflix said.

Netflix reported revenue of $6.64 billion during the fourth quarter.

Netflix added a record 37 million paid memberships, achieved $25 billion in annual revenue – over 24 percent year over year – and grew operating profit by 76 percent to $4.6 billion in 2020.

Netflix expects paid net addition of 6 million in Q1 2021 vs last Q1’s 15.8 million, which included the impact from the initial Covid-19 lockdowns.