Netflix released Q4 2020 financial results today. The streamer reports they’ve passed the 200 million paid membership mark. For full year 2020, they’ve added a record 37 million paid memberships.
The company hit $25 billion in annual revenue, a 24% increase year over year. Operating profile grew 76% to $4.6 billion.
Netflix says they made “good progress” growing profitability with full year 2020 operating margin of 18% rising five percentage points over prior year.
Content Update
The streaming company says they’ve been moving quickly strengthening their original content library. They believe their Q4 slate highlights the “breadth and diversity” of their entertainment offering.
- The Crown:
- Had its biggest season yet and drove viewing of prior seasons
- Over 100 million member households have watched the show since its first launch
- The Midnight Sky
- This Netflix original, directed by and starring George Clooney, had an estimated 72 million member households viewing it in its first four weeks.
- Local originals traveling more broadly
- For example, the French language Lupin heist series hit #2 in the U.S.
Competition
Netflix notes that despite the “massive first year” of Disney+ (87 million paid subs), Netflix still had their biggest year of paid membership growth ever.
