Netflix has added 8.5 million new paid memberships, bringing the streamers’ total paid memberships past the 200 million marks in Q4. This boom in subscribers is due to the COVID-19 pandemic as people continue to stay home.
Netflix “achieved $25 billion in annual revenue,” according to the earnings report. Still, Netflix is warning that “we expect paid net adds of 6 million” in Q1 2021 compared to last year’s “15.8 million, which included the impact from the initial COVID-19 lockdowns.” At 200 million, Netflix has the largest subscriber base out of any streaming service, though competition in the streaming space is heating up. In December, Disney reported that it had 86 million subscribers for its Disney+ streaming service, alone.
Meanwhile, HBO Max is looking to make a big play this year by bringing highly-anticipated movies formerly scheduled for theater-only releases to HBO Max streaming on the same day This includes titles like Godzilla vs. Kong, Dune, and The Suicide Squad. This includes titles like Godzilla vs. Kong, Dune, and The Suicide Squad.
Netflix is entering a new year with more high-power competition than ever before and even more uncertainties about what the pandemic will bring. Netflix will likely continue to sit atop the streaming throne, but it’s not going to ever be as easy as it was before.