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200 million people now subscribe to Netflix and chillINTL

200 million people now subscribe to Netflix and chill

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.

why it matters
This is really unsurprising considering how much the pandemic actually helped services like Netflix, which was already wildly popular (what are you even doing with your life if you still haven’t binge-watched “The Queen’s Gambit”?). The company’s predictions for Q1 2020 remain the same as their Q4 2020 forecast, but with more and more countries imposing stricter lockdown restrictions, there is a good chance those numbers will continue to climb.