A rather unwieldy market of the current week, at which even mostly overbought assets of the fast-recovering banking sector just rolled back submissively to some lower levels despite their positive Q4 financial reports, were pleasantly surprised by high-flying Netflix shares again. The largest streaming service in the world set another record on its global paid membership of more than 203 million subscribers.
The last-quarter figure bounced back to top 8.51 million new customers over this period which included holidays and lockdowns, so people spent a lot of extra time at their homes. Netflix new-comers made a temporary "pause" to reach as low as 2.2 million new subscribers who registered on the service in Q3, 2020. Previously, Netflix added 15.77 million subscribers in Q1, 2020, which included the impact from the initial COVID-19 lockdowns, plus more than 10 million in Q2, 2020.The official CEO's forecast for Q1, 2021 is about 6 million new devotees. The weekly global paid net adds of new consumers are represented in Pic 1.
Pic 1. Netflix: Weekly Global Paid Net Adds Year to Date
Source: Netflix own estimates
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