While the company’s profit dropped from $587 million in the same quarter in 2019 to $542 million in Q4 2020, they did see an increase of 21% in revenue, bringing it to a whopping $6.6 billion. The company also boasted that for 2020, they managed to rake in 37 million new subscribers, an increase of 31% from the year before that.
According to Netflix, “2020 was an incredibly difficult year with extraordinary loss for so many families, new restrictions that none of us have ever had to live with before and great uncertainty. We’re enormously grateful that in these uniquely challenging times we’ve been able to provide our members around the world with a source of escape, connection and joy while continuing to build our business.”
In the meantime, it seems that Netflix competitor Disney+ is seeing a surge in subscribers, where in December 2020, the company boasted that they had hit close to 90 million subscribers. Given Disney+’s limited availability worldwide, we can only imagine that those numbers will skyrocket once the service hits more markets.