Netflix ended 2020 with 203.7 million paying subscribers, according to its latest financial results. The company added 8.5 million net paid members in the final quarter of the year, and 37 million in 2020 as a whole – a record for Netflix.

The video streaming service generated $6.64bn of revenues in Q4, and a net profit of $542m. “We’re becoming an increasingly global service with 83% of our paid net adds in 2020 coming from outside the UCAN region,” announced Netflix – that would be the US and Canada, clearly.

Of interest to the music industry debate about whether audio streaming services could raise their subscription prices as Netflix has: the latter’s average revenue per membership has grown from $9.88 at the start of 2018 to $11.02 at the end of 2020. As a (not exact, calendar-wise) comparison, Spotify’s average revenue per user was €4.72 in Q1 2018, and had fallen to €4.19 by Q3 2020.

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Music Ally's Head of Insight

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