200 million global subscribers of Netflix recorded at the end of 2020

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By Ashish Mitra --
Wednesday, 20 Jan, 2021

Netflix Inc has informed that its global subscriber rolls crossed 200 million at the end of 2020 and projected that it will no longer need to borrow billions of dollars to finance its broad slate of TV shows and movies.

The world's largest streaming service had raised $15 billion by way of debt in less than a decade. Yesterday, the company said that it expected free cash flow to break even in 2021 adding in a letter to shareholders, "We believe we no longer have a need to raise external financing for our day-to-day operations."

Netflix said that it will explore returning excess cash to shareholders via share buybacks. It plans to maintain $10 billion to $15 billion in gross debt. From October to December, Netflix signed up 8.5 million new paying streaming customers as it started streaming widely praised series The Queen's Gambit and Bridgerton, a new season of The Crown and the George Clooney film The Midnight Sky.

With the new customers, Netflix's worldwide membership reached 203.7 million. The company that pioneered streaming in 2007 added more subscribers in 2020 than in any other year, boosted by viewers who stayed home to fight the Coronavirus pandemic.

Now with the completion hotting up, Netflix is working to add customers around the globe as big media companies amp up competition. Walt Disney Co in December unveiled a hefty slate of new programming for Disney+, while AT&T Inc's Warner Bros scrapped the traditional Hollywood playbook by announcing it would send all 2021 movies straight to HBO Max alongside theaters.

200 million global subscribers of Netflix recorded at the end of 2020. Netflix Inc has informed that its global subscriber rolls crossed 200 million at the end of 2020 and projected that it will no longer need to borrow billions of dollars to finance its broad slate of TV shows and movies.

The world's largest streaming service had raised $15 billion by way of debt in less than a decade. Yesterday, the company said that it expected free cash flow to break even in 2021 adding in a letter to shareholders, "We believe we no longer have a need to raise external financing for our day-to-day operations."

Netflix said that it will explore returning excess cash to shareholders via share buybacks. It plans to maintain $10 billion to $15 billion in gross debt. From October to December, Netflix signed up 8.5 million new paying streaming customers as it started streaming widely praised series The Queen's Gambit and Bridgerton, a new season of The Crown and the George Clooney film The Midnight Sky.

With the new customers, Netflix's worldwide membership reached 203.7 million. The company that pioneered streaming in 2007 added more subscribers in 2020 than in any other year, boosted by viewers who stayed home to fight the Coronavirus pandemic.

Now with the completion hotting up, Netflix is working to add customers around the globe as big media companies amp up competition. Walt Disney Co in December unveiled a hefty slate of new programming for Disney+, while AT&T Inc's Warner Bros scrapped the traditional Hollywood playbook by announcing it would send all 2021 movies straight to HBO Max alongside theaters.