Published On: Mon, Sep 7th, 2020

The State of Netflix 2020

By Contributing Author

Netflix is the most extensive streaming services in the world. Netflix continues to dominate the streaming video market year after year. At the end of 2019, Netflix reported an added 8.8 million new subscribers. Netflix is a multi-faceted company and has been gaining industry attention with its original content. Netflix has flung wide open to become the video streaming giant it is today, as it continues to grow, here are some interesting statistics of its state for 2020.

  • Netflix still has the largest subscriber count- Netflix boasts 167 million subscribers that turn in to watch its content.
  • Sixty million adults in the U.S. have a Netflix subscription – When the math is done, it comes down to an estimated 28% of adults in the United States subscribing to Netflix.
  • 41% of Netflix users watch without paying due to account and password sharing – According to surveys, 27% of viewers watching are using the paid subscription of someone in their household, while 14% are using a shared password from a friend or family member.
  • Netflix is older than many users realize – the video streaming service has been under the radar for years, as it grew from a small DVD service to the streaming giant it is today.
  • Despite struggles in the earlier year, Netflix’s now dominates the video streaming market – In the beginning, Netflix only received two million in venture capital funding. Three years later, it raised $50 million.
  • Netflix was incorporating more technology than its competition – In 1999, the company began offering a subscription-based DVD-by-mail service. In 2000, Netflix started to combine a collection of big data analytical tools to recommend videos for users to rent. When Netflix reached four million subscribers in 2004 and realizing the potential of higher-bandwidth internet could provide, Netflix launched online video streaming.
  • One of the first video streaming services available as an app – Netflix grew beyond web browsers in 2008 when it partnered with companies to stream on Xbox 360, Blu-ray disc players, and T.V. set-top boxes. In 2010, Netflix was streaming on Apple products, Nintendo Wii, and much more.
  • Netflix accounts for 19% of all worldwide online video streaming subscriptions – There were 863.9 million online video subscriptions, according to the Motion Picture Association of America’s 2019 theme report. Netflix commands 19% of the global digital streaming market.
  • Netflix upset HBO’s long-running Emmy nomination streak – as of 2020, Netflix has received 225 Emmy nominations and won 43 awards for its original content.
  • Netflix’s Award showing at the Oscars continues to grow – for the 2020 Oscars, Netflix leads the pack with 24 nominations and walks away with two wins for its original movies and documentaries.
  • The Covid-19 pandemic boosted Netflix streaming – as billions of people were self-quarantining during 2020’s Covid-19 pandemic, they were keeping themselves entertained by streaming tv and movies on Netflix. During this time, Netflix has to reduce streaming quality in numerous countries to ease the strain on bandwidth.
  • As of April 2020, Netflix is worth over $162 billion – over the years, the value of the company has multiplied.
  • Netflix employs an estimated 8,600 employees – as of January 1, Netflix reported that is has approximately 8,600 people working for them.
  • During quarantine, 34 million viewers watched Tiger King in the first ten days of release – the popularity of the documentary grew with social media, and the abundance of memes growing interested.

2020 and Beyond for Netflix

All signs point towards a continued successful future for Netflix. However, beyond 2020 could result in a decline in subscriptions for the company. As the service continues adding customers from other markets, its growth in the United States will level off as the company has maximized its potential.

While Netflix still is dominating in the markets its available, there is increased pressure from newer services, which means the company will need to keep up its significant spending and original content to stay ahead of the competition.

Still, as Netflix continues to grow in other markets, it shows no sign of slowing down. With its continued success in producing original content, customers will flock to stream their favorite shows and movies.

 

 

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