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Netflix surpasses 200M subscribers as people continue to self-isolate at home

Coral Murphy Marcos, USA TODAY
·1 min read

Netflix announced the streaming service surpassed 200 million subscribers, according to their fourth-quarter results released Tuesday.

The company added 8.5 million subscribers between October and December 2020, and totaled roughly 204 million subscribers globally by the end of the year. Amid the COVID-19 stay-at-home orders, many Americans flocked to streaming services for entertainment.

"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," reads the letter to shareholders.

The letter also said Netflix will consider returning cash to shareholders through buybacks. "For the full year 2021, we currently anticipate free cash flow will be around break even," the letter states.

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The growth comes despite the streaming service increasing its plan prices for new subscribers in October. Their basic plan increased by $1 to $13.99, while their premium plan rose to $17.99 from $15.99.

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Netflix rival Disney+ is also hiking prices in 2021. The streaming service said its subscription will increase to $7.99 a month, from $6.99 a month, by March 2021, and $79.99 for the yearly subscription, originally priced at $69.99.

Follow Coral Murphy on Twitter @CoralMerfi

This article originally appeared on USA TODAY: Netflix tops 200M subscribers as people still self-isolate at home