Net increase in paid-subscription households in 2020, up to 37 million
Sales increased 24% year-on-year to $25 billion, and operating income of $4.6 billion
The Korean original series’Sweet Home’, enjoyed by over 22 million subscribers around the world.
Netflix, the world’s leading entertainment streaming service, announced its fourth quarter 2020 results.
The most eye-catching part of the announcement on the 20th is the propaganda of the Korean original series’Sweet Home’, which has surpassed 200 million paid subscribers worldwide on Netflix, and stands shoulder to shoulder with major overseas works.
Netflix’s paid subscription households increased by about 8.5 million QoQ, exceeding 200 million for the first time ever. In the case of APAC (Asia Pacific), Netflix’s second-largest growth driver was followed by EMEA (Europe, Middle East, and Africa), which recorded a net increase of 14.9 million paid-subscribed households, with a net increase of 9.3 million paid-subscribed households in the last quarter. It turned out to be local. Netflix is intensively fostering original content produced outside the United States, and investment in Korea and Korean content is also expanding.
The achievements of’Sweet Home’ produced by Netflix with Korean creators were also included in the performance announcement. ‘Sweet Home’, which was unveiled on December 18 last year, caused a big repercussion both at home and abroad with the interesting material that an ordinary person turns into a monster that expresses the desires deeply cherished, the intense visuals of the monsters, and the tense development.
According to Netflix, in the first four weeks after the work was released, 22 million paid-subscribed households around the world chose’Sweet Home’ to watch. ‘Sweet Home’ was side by side with local original works that Netflix released at the same time, such as’Aris in Borderlands (18 million)’,’Selena (25 million)’, and’Today’s Christmas (26 million)’.
Director Lee Eung-bok, who directed’Sweet Home’, said, “We are very happy to hear that the unique story of Sweet Home has been loved by tens of thousands of households across the world.” “I would like to thank you for the efforts of Studio Dragon and all the production crew and actors who worked hard on the production.
Kim Min-young, vice president of content for Netflix Korea, Southeast Asia, Australia and New Zealand, said, “We are happy to deliver the news that more than 22 million paid subscribers to Netflix have enjoyed the joy and thrill of the original series’Sweet Home’ created by Korean creators.” “We strive to ensure that our members enjoy the best entertainment experience anytime, anywhere, the way they want.”
“We are very grateful that’Sweet Home’ provided something for the whole world to talk about together across borders and language barriers in difficult times.” “Netflix will continue to discover more enjoyable content with domestic creators. I will continue the journey to introduce myself.”
Netflix has invested about 770 billion won in Korean content since 2015 and is pursuing mutual growth with the creative ecosystem. Last year, it showed its willingness to produce more Korean content and expand investment by establishing’Netflix Entertainment Ltd’, a new corporation that fully supports Netflix’s Korean content-related business.
Earlier this year, it signed a multi-year lease agreement with content studios located in Paju-si and Yeoncheon-gun, Gyeonggi-do, to lay the foundation for long-term production of Korean original content. It is striving to help the growth of the Korean content industry as a whole by holding regular webinars and workshops for emerging writers, special effects and editing experts, film and video students and related fields.
Netflix’s net increase in paid-subscription households in 2020 is a record-high 37 million units, sales increased by 24% year-on-year to $25 billion (about KRW 27,562.5 billion), and operating profit increased by 76% to $4.6 billion (about 5) Trillion 71.5 billion won). Based on cash of 8.2 billion dollars (about 9.4 trillion won) and undrawn credit facility of 750 million dollars (about 8268 billion won), it is possible to operate the company without external financing. It is expected to break through this break-even point (BEP).
For more information on Netflix’s fourth quarter 2020 results, please visit the Netflix Investor website (ir.netflix.net).
Status of paid subscription households by region on Netflix
UCAN (North America)-73.94 million units (9.2% increase from the same period last year)
APAC (Asia Pacific)-25.49 million (57.1% increase over the same period last year)
EMEA (Europe, Middle East, Africa)-66.7 million (28.81% increase over the same period last year)
LATAM (Latin America)-37.45 million (19.47% increase over the same period last year)
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