Netflix has announced that it has exceeded 200m paid subscribers for the first time.
Netflix announced the figure in its Fourth Quarter 2020 Financial results.
The company added 8.5m subscribers in the last three months of 2020 and added 37m across the entire year which represented a 31% increase from 2019’s 28m paid additional subscribers.
Netflix said it was becoming “an increasingly global service” with 83% of its subscriber increase in 2020 coming from outside the United States and Canada. The EMEA region accounted for 41% of full year paid net adds, while APAC was the second largest contributor to paid net additions with 9.3m (up 65% year over year).
In the note to shareholders, Netflix acknowledged that there was increased competition in streaming entertainment from the likes of Disney, WarnerMedia and Discovery and “this is, in part, why we have been moving so quickly to grow and further strengthen our original content library across a wide range of genres and nations.”
It picked out hits like season four of The Crown and Shonda Rhimes’ Bridgerton as well as original film The Midnight Sky.
It said that despite COVID restrictions, “our productions are back up and running in most regions” with over 500 titles currently in post production or preparing to launch and plans to release at least one new original film every week in 2021.