Netflix Reaches 200 Million Subscribers

Netflix has just announced it surpassed 200 million subscribers at the end of last year, according to Reuters. The company, which is the largest worldwide streaming service, also now is forecasting it will no longer need to borrow billions in order to fund its large TV and movie line-up.

Its popularity has allowed it to provide offerings across genres and language barriers. Its programming includes its most popular original series, “The Witcher,” which has been viewed by 76 million subscribers, according to CNET.

“They push play, and 10 minutes later, all of a sudden, they like foreign-language television. So it’s a really incredible evolution,” Ted Sarandos, Netflix’s co-CEO and the company’s head of content said this week. “You can throw out a lot of preconceived notions about what works and what doesn’t, because those are mostly established by business trends, not by consumer trends.”

The company has raised $15 billion through debt in less than 10 years. Netflix now projects its free cash flow will break even this year, and the company is ahead of its competition by far.

Disney’s Hulu service has been in operation for as long as Netflix has and now has 38.8 million subscribers. However, it only operates nationwide and not worldwide as Netflix does. In addition, HBO Max now has just 12.6 million subscribers. Disney Plus gained 86.8 million subscribers in its first year.

Netflix raised its prices last October. However, company officials do not expect that to slow down its number of subscribers and expect to add six million this quarter.