Netflix adds over 8.5-million subscribers in final quarter of 2020
With $8.2bn in cash, and a credit line that has not been drawn down, Netflix says it no longer needs external financing
20 January 2021 - 15:18
Netflix ended its biggest year in company history with a bang, adding more customers than expected and saying it no longer needs to borrow money to build its entertainment empire.
The world’s leading paid streaming service attracted 8.51-million new subscribers in the final three months of 2020, helped by the popularity of hit shows such as “Bridgerton” and “The Queen’s Gambit”. That outpaced Netflix’s own forecast and the 6.06-million projected by Wall Street, and its shares rose 14% in pre-market trading...
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