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Online video service Netflix saw surprisingly strong growth at the end of the year thanks to hit series such as “Bridgerton” and “The Crown” despite tougher competition. In the three months to the end of December, the number of paying subscribers rose by 8.5 million to just under 204 million, Netflix announced yesterday after the US stock exchange closed. This was the first time the 200 million user mark was cracked. The figures significantly exceeded its own forecast and analysts’ expectations. The share price initially jumped by almost ten percent after the close of trading.
Netflix is making high investments to combat financially strong competitors who want to steal customers away from the streaming market leader with newer video services. Disney+, for example, is experiencing very strong growth, but other services such as HBO Max and Peacock are also putting Netflix under pressure alongside more established rivals such as Amazon Prime and Hulu. They are all benefiting from the streaming boom caused by the pandemic.
- source: orf.at/picture: pixabay.com
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