Netflix has officially accumulated 200 million subscribers, but the company does not plan to rest on its laurels.
While continuing to compete with services like Disney + and HBO Max, Netflix plans to continue to improve its user experience to keep viewers returning. He introduced his “worth waiting for”, “top 10” and “new and popular” sections last year to help with the discovery, and Netflix says it is preparing to launch another new feature as well. In the first half of this year, the service will add a tool to allow Netflix to choose a title based on user preferences, rather than requiring them to look for something to watch.
“Our members can basically indicate that they want to skip navigation altogether, click on a button and we will choose a title for them to play instantly. And this is a great mechanism that has worked a lot for members in this situation, ”said COO and product director Greg Peters during a Q&A earnings. Asked whether the service would call the tool “I’m feeling lucky”, Peters said it would be called something different at launch.
We’ve contacted Netflix for more information on how titles are suggested and will update this post when we have a response.
Netflix said in its fourth quarter letter of shareholders disclosed Tuesday that it managed to secure another 8.5 million paid subscriptions to help the streaming giant surpass the 200 million mark. In all, the company added a total of 37 million paid subscriptions during 2020, undoubtedly helped by the increase in TV viewing and streaming that resulted from blocking orders and quarantine measures amid the coronavirus pandemic. For some context, Netflix says that the number of members increased by 23% over the previous year in the fourth quarter.
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With the arrival of so many new streaming services competing for consumer money and watch time, Netflix has more competition than ever. But the company says it expects this new competition – including heavyweights like Disney and WarnerMedia – for “many years”. The key to their response is the dizzying buzz of original content and the latest hits, such as the most recent season of The crown, barbariansand Selena: the series.
Its content strategy is also enhanced with the launch of its international films in foreign markets. The company specifically cited an example from the French theft film Lupine, who liked a no. 2nd place on the top 10 list in the USA. In 2020, the company also released a series of highly successful originals during the year, which enjoyed critical criticism and cultural impact. Tiger King, Queen Gambitoand Bridgerton there were three home runs, the company said.
Even with the pandemic significantly delaying production schedules and release dates, Netflix says it is still on track to release at least one original film every week 2021. In addition, the company said it has more than 500 titles in post-production or ready to enter service.
Most surprising, however, was Netflix’s claim that it is “very close” to having positive cash flow and no longer needs to raise external financing. In addition, the company plans to “repay the security at maturity with the available money, as we are currently well above our minimum cash requirements”. More information on this front is likely to be shared during the investor call today.
Overall, it was an amazing year for Netflix. And it seems that despite the number of competitors who would like to steal your crown, Netflix remains the king in the streaming space – for now, at least.
This post has been updated to add additional information about the Netflix conference call.