Netflix has surpassed the 203.6 million subscriber barrier worldwide, an achievement that comes after the platform experienced spectacular growth in the first half of 2020.
But with more than 200 million subscribers, Netflix also acknowledges that 2021 is unlikely to see much of its net subscriber gains every quarter, starting in the first quarter of 2021.
The platform added a total of 8.5 million new subscribers in the fourth quarter, reaching a record 37 million new subscriptions in 2020, up from 28 million new subscriptions in 2019.
The company reported $6.64 billion in revenue for the fourth quarter, compared with analysts' expectations of $6.63 billion in revenue.
According to the earnings report, Netflix generated $25 billion in annual revenue, however, the service warns that it expects to add 6 million new subscriptions in the first quarter of 2021 compared to about 15.8 million in the first quarter of 2020.
The platform no longer needs to raise external funding for its day-to-day operations, or, more simply, Netflix no longer needs to borrow large amounts of cash.
After a disappointing third quarter in terms of subscriber earnings (added 2.2 million compared to 6 million forecast), the current growth spurt of what Netflix can achieve through a series of content.
The platform also noted that its original television shows captured 9 of the world's top 10 search series in 2020.
The company acknowledged the growing competition from new streaming services, such as Disney, Peacock and HBO Max, but its user numbers still rank edited well higher than any competitor.
"Our strategy is simple, so if we can continue to improve the service every day to make our members better happy, we can be their first choice for entertainment," the company said.
Netflix is always looking for a better way to connect users instantly with something to watch, rather than wasting time scrolling in vain across all available programming options.
Netflix plans to roll out a random play feature that chooses something for all its customers in the first half of this year, and the feature generally aims to bring the streaming experience closer to that of traditional TV, where you can turn on the TV and start watching content immediately.
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