Netflix Crosses 200 Million Subscriber Mark

Netflix Crosses 200 Million Subscriber Mark.

The streamer made the announcement on Tuesday.

This is the first time that Netflix has reached 200 million subscribers since its inception in 1997.

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The milestone is thanks to the 8.5 million subscribers who signed up for the service in the fourth quarter of 2020.

According to CNN, Netflix attracted 37 million total paid subscribers in 2020, a 31 percent jump from 2019.

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The platform earned $6.64 billion in revenue and $542.2 million in profits between October and December of 2020.

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It achieved a positive cash flow of $1.9 billion in 2020, a major achievement considering it posted a negative cash flow of $3.3 billion in 2019.

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Netflix is reportedly exploring a stock buyback program that would allow cash to be returned to its investors.

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The company’s stock increased as much as 12 percent following the announcement of its fourth quarter earnings.

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We're enormously grateful that in these uniquely challenging times we've been able to provide our members around the world with a source of escape, connection and joy while continuing to build our business, Netflix, via Complex