Netflix has surpassed 203.6 million subscribers globally. The spike is attributed to the high subscription rate the company experienced in the first half of 2020. As Netflix acknowledges this major milestone, they also believe that 2021 will not amass similar figures.
The movie streaming company recorded 8.5 million paid net subscribers in Quarter 4 of 2020, with a record 37 million paid memberships in 2020. Netflix announced in its annual earnings report that it had raked in $25 billion in 2020.
Netflix expects to make Sh6 million in paid net adds in the first quarter of 2021 compared to Sh15.8 million during the same period last year. Although last year’s figures were greatly influenced by the Covid-19 pandemic, Netflix says that they will no longer need to raise external financing for their operations.
The fourth quarter was particularly good for Netflix with shows such as The Queen’s Gambit and Bridgerton amassing a huge following.
Netflix has so far released some of its 2021 plans including a price increase for US subscribers. The company last week released a list of 70 films to look forward to in 2021, saying it would be releasing one movie every week.
Netflix is also bound to face competition this year from other streaming services such as HBO and Disney.
“Our strategy is simple: if we can continue to improve Netflix every day to better delight our members, we can be their first choice for streaming entertainment,” Netflix’s letter to shareholders reads.
In Kenya, Netflix subscribers are set to fork out more after the Digital Service Tax took effect on January 1, 2021. All digital services, including streaming services will attract a 1.5 percent tax.