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Netflix Reaches 200 Million Subscribers for the First Time

Published by

December 5, 2024
(GMT+2)

Netflix Inc. ended last year with over 200 million subscribers, a milestone fueled by consumers left stuck at home by the pandemic, longing for entertainment, and increasing demand in international markets where the streaming service has a head start over the many rivals.The company stated that it is now able to generate more cash than it requires, and no longer expects having to borrow money to power its growth strategy. Netflix shares went up 12% in after-hours trading. Netflix’s ongoing subscriber growth comes amid heightened competition from new streaming services including Walt Disney Co’s Disney+, Apple Inc’s Apple TV+, At&T Inc’s HBO Max and Comcast Corp’s Peacock, all of which were not around a little over a year ago.The company got a jump from the coronavirus pandemic, which forced consumers to cut back on a host of leisure activities-from dining out and vacations to visiting theaters and concert venues-as economies locked down. With many people spending more time at home, streaming demand increased.

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