The video streaming service Netflix Tops 200 Million Subscribers for the first time as its expanding line-up of TV series and Movies continues to captivate people stuck at home during the ongoing battle against the pandemic. The subscriber milestone highlighted Netflix‘s fourth-quarter results released Tuesday.
The service added another 8.5 million subscribers during the October-December period, capping Netflix’s biggest year since its inception as a DVD-by-mail service in 1997. Netflix ended the year with nearly 204 million worldwide subscribers.
The fourth-quarter gains easily topped the projections of the roughly 6 million additional subscribers projected by Netflix’s own management and Wall Street analysts, even as the company began rolling out price increases of 8% to 13% in the U.S. “Netflix continues to exceed expectations for subscriber growth and has executed extremely well during the pandemic,” Wedbush analyst Michael Pachter told investors in a report.