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Netflix tops 200 million paid subscribers globally

AFP WORLD
Published January 20,2021
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The Netflix logo is seen on the company's office in Hollywood, Los Angeles, California, U.S. July 16, 2018. REUTERS/Lucy Nicholson/File Photo

Netflix on Tuesday reported that it topped 200 million paid subscribers globally in the recently ended quarter as annual revenues topped $25 billion for the streaming television giant..

Netflix shares jumped more than 10 percent in after-market trades to $553.50 after release of the report which showed better growth in subscribers than expected despite recently raising rates.

For the full year, Netflix added a record 37 million paid memberships, according to the earnings report.

"We're enormously grateful that in these uniquely challenging times we've been able to provide our members around the world with a source of escape, connection and joy while continuing to build our business," Netflix said in a letter to investors.