The number of subscribers to Netflix, the world’s largest streaming website, has multiplied in the last quarter and now the total number of Netflix subscribers has exceeded 200 million.
According to the details, the number of Netflix users has increased during the lockdown due to global coronavirus.
According to Netflix’s latest quarterly update, the number of subscribers has increased by 8.5 million, bringing the number of subscribers to 203 million.
This was followed by a sudden 12% increase in Netflix shares.
Read more: Netflix announces the release of record 70 Hollywood movies this year
Netflix’s profit fell to $542 million in the fourth quarter of last year from 58 587 million in the same period in 2019.
However, overall, Netflix’s revenue rose 21.5 per cent to $6.6 billion in the last quarter of the year.
According to the report, in the year 2020, Netflix added a record 37 million subscriptions which were also paid.
In a letter to investors, Netflix said: “We are delighted to be able to grow our business in this uniquely challenging time, providing our members around the world with a source of escape, connectivity and enjoyment.”
According to the company, in the last quarter of 2020, Netflix’s paid membership increased by 23% a year earlier, but the average revenue per membership was lower.
According to the report, Netflix slightly increased its subscription rates in the United States late last year, while 83% of its new subscribers came from outside North America.
Just a few days ago, Netflix announced the release of a record 70 Hollywood movies this year.
One movie a week is usually released on Netflix, including web series and documentaries.
However, more movies will be released now due to the closure of cinemas since last year due to the Coronavirus pandemic.