It was undeniably THE activity of the last year, if not of the last decade.
Netflix’s shares jumped after it reported over 200 million paying subscribers along with a stellar performance in 2020. The popular streaming platform’s shares were trading 12.4% higher following the news.
Netflix (NFLX) benefited from stay-at-home COVID-19 restrictions, amassing an astounding net growth of 37 million new subscribers for the full year – 8.5 million in the last quarter of 2020 alone. In addition, it predicts it will add 6 million new subscribers in the first quarter of 2021 (ambitious much?)
While similar streaming platforms have also gained steam in the past year, including Disney+ and HBO Max, Netflix is still the leader in the industry.