Coronavirus has forced people to trap inside the home which proved helpful for OTT platforms to gain subscribers. American over-the-top content platform and production company Netflix also enjoyed the benefit of the lockdown. Paid subscribers for Netflix surpassed the 200 million mark in 2020 as corona restrictions helped it to gain viewership.
Netflix on Tuesday revealed its results for the fourth quarter which saw an addition of over 8.5 million paid subscribers to the platform. The company said that Average paid streaming memberships increased 23 per cent 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 $9.88 to $11.02, despite significant F/X (foreign exchange) headwinds. This approach has allowed us to organically increase revenue by $4-$5 billion annually over the past several years."