Netflix Hits 208 Million Paid Subscribers, Will Spend $17 Billion On Content In 2021
The streaming service is up almost 14% from last quarter.
Netflix continues to see success in 2021 as the company has hit 208 million subscribers (which it rounded up from 207,640,000) according to a recent press release. And Netflix plans on spending a lot of money on new content for all of 2021, $17 billion to be exact.
Since the coronavirus pandemic began, Netflix saw 25 million more paid subscribers sign up. This 13.6% year-over-year growth has been huge for Netflix, with revenue hitting a little over $7 billion in the first quarter of 2021. While Q1 saw a boost in subscribers and profits for the company, Q2 forecasts project a little bit of a plateau compared to previous quarters. Netflix is projecting that there will be 208.6 million subscribers, only adding a million paid subscribers in the upcoming few months.
Regardless of current projections, Netflix will be spending a lot of money on content, as many COVID-19 production delays from 2020 lead into 2021. Aside from Brazil and India, production around the world has restarted on Netflix movies and TV shows. There will be more Netflix originals this year than in the last, which--as previously mentioned--will cost the company $17 billion.
More information about Netflix's upcoming originals should be revealed later today during the investor call for the company.
As for other Netflix news, more information has been revealed about Season 4 of Castlevania, the hit animated series based on the video game franchise of the same name. The streaming service is getting a Joey Ramone biopic which will star SNL cast member Pete Davidson. Season 2 of Love Death + Robots got a brand-new trailer, showcasing some impressive animated short films, and the latest offering of episodes lands on Netflix on May 14.