The final months of 2020 will be remembered as the culmination of the streaming behemoth’s controversial decade-long strategy to invest in content, spend cash and grow its debt load. Validation came Tuesday after market close, when the stock surged a staggering 12% during the after-hours session.
Perhaps most impressive was Netflix’s international subscriber growth. The company said 83% of 2020’s net sub additions of 37 million came from outside the U.S. & Canada. Paid net sub additions in Asia Pacific region grew 65% year-over-year, and subscriptions in Europe, the Middle East and Africa accounted for 41% of Netflix’s full paid net adds.
At the time of the price hike announcement, many were concerned that the increases would lead to higher churn. But if Q4 and 2020 were any indication, Netflix proved it has strong pricing power due to its robust content library.
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