San Francisco: Paid subscribers for Netflix surpassed the 200 million mark in 2020 as Covid-19 restrictions supported it to gain viewership, Netflix said.

Average paid streaming memberships spiked 23 pc year over year in Q4, while average revenue per membership was flat year over year both on a reported and foreign exchange neutral basis, the company said.

“Since the start of 2018, our paid memberships have risen from 111m to 204 million and our average revenue per membership has grown from USD9.88 to USD11.02, despite significant Foreign exchange headwinds,” Netflix said. “This approach has allowed us to organically increase revenue by USD4-USD5 billion annually over the past several years,” it added.

Notably, in the fourth quarter, Netflix reported revenue of USD6.64 billion. “Revenue was 1  pc higher than our guidance forecast, as paid net adds exceeded our 6.0 million projection by 2.5 million,” the company said.

For the full year, Netflix added a record 37 million paid memberships, achieved USD25 billion in annual revenue  (over 24 pc Y-o-Y) and grew operating profit 76  pc to USD4.6 billion. “For Q1’21, we expect paid net adds of 6.0m vs. last Q1’s 15.8 million, which included the impact from the initial Covid-19 lockdowns,” the company said

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