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Netflix keeps growing amid COVID-19 pandemic

January 20, 2021

Netflix keeps growing amid COVID-19 pandemic

Netflix has reported stronger subscriber growth in last quarter, keeping ahead of its rivals competing for viewers stuck in the homes during the COVID-19 pandemic.

The OTT platform added 8.5 million paid subscribers to reach 200 million, despite recent price hikes, its quarterly update showed. Shares of Netflix jumped more than 12 percent in after-market trades.

Benefits plunged to $542 million in the final quarter, contrasted and $587 million in a similar period in 2019. However, generally income in the quarter flooded 21.5 percent to $6.6 billion.

For the entire year, Netflix added a record 37 million paid enrollments, as indicated by the profit report.

“We’re hugely thankful that in these particularly testing times we’ve had the option to furnish our members around the globe with a source of escape, association and happiness while proceeding to build our business,” Netflix said in a letter to speculators.

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