Netflix Made a Huge Announcement Related to its User-base
There was a time when the only source for people to dramas were the theaters and for movies, it was the Cinemas. People used to flock to these places to watch the latest and upcoming movies and dramas. Then the movie and drama industry was revolutionized with the introduction of television.
After the introduction of televisions, came the VCR(s) and Cassettes that further revolutionized the movie and drama industry. It was no longer mandatory for people to visit cinemas and theaters to watch the latest movies or dramas. People could simply do it by staying at home, and all they had to do was purchase a Cassette on their way back home and play it on the VCR.
After VCR(s) and Cassettes, came CDs and DVDs that could be played through the CD/DVD players. However, there was one particular problem with all these platforms. Whether it was a cinema, a theater, a VCR, or a CD/DVD player, they all had one particular thing missing. They were not live and only offered one content at a time.
People had to go through a lot of trouble and spend a lot of money in purchasing movie tickets or rent/buy cassettes or discs before they could get the content.
This is when one of the companies thinking out of the box came up with the best solutions. As the internet became commercialized in 1995, people started gathering around the internet platform. Now, the internet has become somewhat of a basic utility and can be found in every household.
This is where platforms such as Amazon Prime Video, HBO Max, Crackle, and Hulu have found their place as online video content providers. However, Netflix is the platform that has managed to become the widely adopted and most subscribed provide in this category.
Netflix was also founded as a DVD rental company back in 1997 but even then it was better than the rest of the DVD rental services. It allowed users to choose their favorite DVDs, which it would deliver to your doorstep for renting.
On January 19, 2021, Netflix has announced that it has managed to cross the 200 million user milestone. With this, it has become one of the most influential companies to have ever operated in Hollywood.
It has confirmed that it currently has more than 200 million active subscribers using its service on a daily basis. The company has confirmed that in the last quarter of 2020, Netflix provided subscriptions to 8.5 million subscribers. This is even more than what the platform had predicted or added in their forecast.
Netflix has also revealed that the profit it managed to make in the fourth quarter of 2020 was $542. The company has also announced that its annual revenue has jumped by 21% and for the year 2020, the figure was $6.6 billion.