Netflix has officially amassed 200 million subscribers, but the company has no plans to rest.
As it continues to compete with services like Disney + and HBO Max, Netflix plans to continue to improve its user experience so that viewers return. It introduced its “Worth Waiting”, “Top Ten” and “New and Popular” sections last year to help you discover it, and Netflix says it’s also gearing up to launch another new feature. During the first half of this year, the service will add a tool that will allow Netflix to choose a title based on user preferences instead of requiring them to look for something to watch.
“Our members can basically tell us that they want to skip navigation completely, click a button and we will choose a title to play them instantly. And this is a fantastic mechanism that has worked quite well for members who are in this situation, ”said COO and product director Greg Peters during a Questions and Results about earnings. When asked if the service would call the tool “I feel lucky,” Peters said it would launch something different at launch.
We’ve contacted Netflix for more information on how the titles are suggested, and we’ll update this post when we hear about it.
He said Netflix in its fourth quarter letter from shareholders published on Tuesday that it managed to secure 8.5 million more paid subscriptions to help the broadcast giant surpass the 200 million. All in all, the company added a total of 37 million paid subscriptions during 2020, no doubt thanks to the increase in TV viewing and transmission that resulted from blocking orders and quarantine measures amid the coronavirus pandemic. By some context, Netflix says affiliations increased 23 percent over the previous year in the fourth quarter.
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With the advent of so many new streaming services competing for consumer money and viewing time, Netflix has more competition than ever. But the company says it has been waiting for this new competition for “many years”, including heavyweights like Disney and WarnerMedia. The key to your response is your wealth of original content and the latest hits, such as the latest season of The Crown, Barbarians, i Selena: The series.
Its content strategy is also enhanced with the release of its international films in foreign markets. The company specifically cited an example of the French robbery film Lupí, which enjoyed a no. 2nd place on their top 10 list in the United States. In 2020, the company also released several successful originals during the year that had a critical vindication and cultural impact. Tiger king, Gambit of the queen, i Bridgerton were three of those local races, the company said.
Even with the pandemic significantly slowing production deadlines and release dates, Netflix says it is still on track to release at least one original film. every week of 2021. In addition, the company said it has more than 500 amazing titles, either in post-production or ready to serve.
Most striking, however, was Netflix’s claim that it is “very close” to having a positive cash flow and that it no longer needs to raise external funding. In addition, the company plans to “amortize the bond at maturity by available cash, as we are currently well above our minimum cash requirements.” More information on this front will likely be shared during a call from its investors later today.
All in all, it’s been an amazing year for Netflix. And it seems that despite the number of competitors who would like to slip their crown, Netflix remains the king in the broadcast space, for now, anyway.
This post has been updated to add additional Netflix earnings call information.