Netflix Adds 8.5 Mn Subscribers In Last Qtr; Total Subscribers Over 200 Mn

Popular OTT platform Netflix on January 19 surpassed the projected subscriber base gaining 8.5 million subscribers in the last quarter. Making it to 203 million subscribers globally, Netflix’s CFO Spencer Neumann cited COVID-19 pandemic as an important factor behind the increase in subscriber base. Reportedly, the platform had added 37 million paid members last year. It has also planned to buy back its shares as it no longer needs to borrow money to function.