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NETFLIX'S BIG 4Q LIFTS VIDEO SERVICE ABOVE 200M SUBSCRIBERS

Techlife News

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Techlife News #482

Netflix’s video streaming service has surpassed 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.

NETFLIX'S BIG 4Q LIFTS VIDEO SERVICE ABOVE 200M SUBSCRIBERS

The subscriber milestone highlighted Netflix’s fourth-quarter results released this week. 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. Netflix’s stock surged by more than 13% extended trading after the latest subscriber numbers came out.

After its upending of the DVD-rental industry, Netflix introduced the then-revolutionary concept of streaming TV shows and films 14 years ago. At that time, its service had a mere 6 million subscribers.

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