The service plans to release at least one new original film every week in 2021. Netflix also reports that its original content production companies are “back up and running in most regions,” and that it has over 500 titles currently in post-production or ready to launch. And its biggest film was The Midnight Sky, starring and directed by George Clooney, with about 72 million views in just its first four weeks. The Queen’s Gambit was the biggest limited series in Netflix history, with over 62 million views in its first 28 days. Netflix says that The Crown was its biggest series success of 2020, with over 100 million viewers since the first season debuted. It ended the quarter with 203.3 million paying subscribers, with a year-over-year growth rate of 22 percent. “For the full year, we added a record 37 paid memberships, achieved $25 billion in annual revenue (+24 percent year over year) and grew operating profit 76 percent to $4.6 billion.”įor the quarter ending December 31, 2020, Netflix posted a net income of $542 million on revenues of $6.6 billion. “With 8.5 paid net additions in, we crossed the 200 paid memberships mark,” Netflix revealed in a letter to shareholders. As part of its latest quarterly earnings report, Netflix announced this week that it has surpassed the 200 million active user milestone. Follow us on Facebook, Twitter and Instagram. Read all the Latest News, Trending News, Cricket News, Bollywood News, India News and Entertainment News here. After years of trying, they may see a chance to gain ground on their giant rival. To entertainment executives and analysts, the moment felt decisive in the so-called streaming wars. Honestly, Netflix should observe the strategies of both these streaming services and plan its strategy according to that.Īs per New York Times report, Netflix blamed a number of issues, ranging from increased competition to its decision to drop all its subscribers in Russia because of the war in Ukraine. However, Disney + Hotstar and Amazon Prime Video are way ahead with 46 million subscribers and 22 million subscribers respectively. Netflix ranks third in the country as a research firm recently claimed that it has around 5.5 million subscribers in India. The platform needs to work on its content strategy and come up with such Indian content that has Indianness and relevance at the same time. While Netflix has some great international movies and shows, the desi aka Indian content acquired or produced by the streaming giant has not impressed the audience. The world's largest streaming service lacks additional benefits that come with its two biggest competitors (ad-supported free content and add-on service). In December 2021, the streaming giant lowered its subscription price across all plans, bringing its lowest plan at Rs 149 per month, but honestly, it is still not enough. The share of the streaming pioneer fell 37 per cent, which is shocking and disappointing on many levels.Ĭoming to India, Netflix is still struggling to crack this market and there are several reasons behind this.Īs basic as it sounds but yes, the high subscription price is one of the primary reasons for Netflix getting maximum subscribers across the country. However, the streaming giant has witnessed a drastic downfall as it lost 2 lakh subscribers in less than 100 days. Netflix has narrowed down many barriers and made sure the films and shows acquired or produced by him reach to the maximum audience across the globe. Apart from buying the OTT rights of big-ticket movies and web shows, the streaming giant has made it big and bankrolled some of the biggest ventures in the history of world cinema. Well, Netflix is one of the biggest names in the OTT world.
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